Clearing experts fear tough EC stance on Emir 2.2

Industry disappointed final Esma advice did little to dial back on burdensome equivalence rules

Hammer to break nut

The European Commission is expected to consult on a new supervision regime for third-country clearing houses in the new year, with market participants anxious over whether it will step back from a potential confrontation with US lawmakers.

The European Securities and Markets Authority (Esma) finalised technical advice to the EC on the new regime in November. The EC will now use this to craft a delegated act under the revised European Market Infrastructure Regulation, which has been dubbed Emir

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