ESMA opens floor for third country CCP rulemaking

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By GlobalCapital
16 Dec 2019

The European Securities and Markets Authority (ESMA) has launched a consultation on the rules surrounding penalties for third-country central counterparties (TC-CCPs), trade repositories (TRs) and credit rating agencies (CRAs).

ESMA said it was aiming to align three sets of rules, with the consultation focusing on the procedural aspects for imposing fines and penalties on TC-CCPs, TRs and CRAs.

It follows amendments to the European Market Infrastructure Regulation earlier this year. In March, the European parliament agreed to ...

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