EC backs ESMA limits to frontloading

By Hazel Sheffield
17 Jul 2014

Michel Barnier, European Commissioner for internal market and services in Brussels, has come out in support of the European Securities and Markets Authority’s efforts to limit the scope of frontloading under the European Markets Infrastructure Regulation.

In a letter addressed to Steven Majoor, ESMA chair in Paris, Barnier cited a clause in the EMIR documentation allowing the frontloading requirement to be adjusted through the determination of minimum remaining maturities, adapted to each asset class.

ESMA had earlier proposed limiting frontloading using minimum remaining maturities ...

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