ESMA welcomes EC proposal on euro clearing
The European Securities and Markets Authority (ESMA) on Monday reacted positively to last month’s European Commission proposal on third country central counterparties (CCPs), which offered the regulatory body more powers to supervise foreign clearing houses.
The pan-European regulator also called for increasing the stringency of third country supervisory regimes over credit rating agencies, trade repositories, benchmarks and maybe even trading venues and data providers.
The endorsement and proposal were made in light of the “impact of the UK’s withdrawal from the EU”, with
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