In a letter issued to all licence holders, legal advisors, auditors and derivative counterparties, the MFSA has published a list of common issues identified in most of the EMIR on-site inspections being performed by the MFSA.
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The European Commission recently launched a consultation inviting stakeholders to share their views in relation to what qualifies as a foreign exchange (“FX”) financial instrument.
EMIR – Commission adopts latest regulatory technical standards regarding non-EU entities and the circumvention of EMIRGANADO Advocates - March 3, 2014 - Categories: Other News
On the 13th of February 2014, the Commission adopted the regulatory technical standards (“RTS”) on the direct, substantial and foreseeable effect of contracts within the EU and on the prevention of the evasion of rules and obligations in connection with the European Markets Infrastructure Regulation (“EMIR”).
On the 14th February 2014, the European Securities Market Authority (“ESMA”) sent a letter to the European Commission requesting clarification in relation to the definition of the terms “derivative” and “derivative contracts” under the European Market Infrastructure Regulation (“EMIR”)
Commission Delegation Regulation (EU) No 149/2013 of 19 December 2012 which came into force on 15 March 2013 set out technical standards (the “Technical Standards”) on a number of derivative related obligations, including the obligation to utilise prescribed risk mitigation techniques.