Commenting on the European Commission’s proposed amendments today to the supervisory arrangements for EU and third-country CCPs under the European Market Infrastructure Regulation (EMIR), Simon Lewis, Chief Executive at the Association for Financial Markets in Europe (AFME) said:
“The Commission's proposal to amend EMIR appears to be a pragmatic approach which will require a more detailed assessment particularly with regard to the treatment of third country CCPs.
“We are encouraged to see evidence of outcomes based on supervisory cooperation, but would like greater clarity on terminology such as 'substantially systemically important’ CCP.”
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