EC hardens stance on pension fund clearing exemption

European Union
By Costas Mourselas, Jean Comte
04 May 2017

The European Commission hardened its stance on a clearing exemption for pension funds on Thursday as the final version of a proposed piece of legislation reduced the potential scope of the grace period to five years.

A draft version of the European Market Infrastructure Regulation (EMIR) had proposed a longer exemption, GlobalCapital reported on Tuesday. It allowed for an immediate three year clearing exemption with scope for an additional six years, should “carefully assessed circumstances justify this”.

The power to “extend the derogation twice” would come ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.