|
| 1 | Hot topics: EMIR This practice note provides a high level overview of the key regulatory developments at an EU level relating to EMIR (the Regulation on OTC derivative transactions, central counterparties and trade repositories (Regulation 648/2012)). The key primary source material table in this note contains links to key primary source material and related PLC Financial Services Legal updates. It is not intended to be an exhaustive list of all relevant materials published by interested parties. For information on the EMIR clearing requirement for OTC derivative contracts, see Practice note, EMIR: reqirement to clear OTC derivative contracts through a CCP. | Practice Note: Overview | Maintained |
|
| 1 | Cross-border Application of Dodd-Frank Swaps Rules This Note details proposed CFTC interpretive guidance on the extraterritorial application of the swaps provisions of Title VII of the Dodd-Frank Act, as well as the corollary SEC proposal for treatment of non-US security-based swaps (SBS) including their application to non-US affiliates of US persons and to US affiliates of non-US persons. | Practice Notes | Maintained |
| 2 | EMIR: requirement to clear OTC derivative contracts through a ... EMIR (the Regulation on OTC derivatives, central counterparties and trade repositories) (Regulation 648/2012) requires certain classes of over-the-counter (OTC) derivatives contracts to be cleared through a central counterparty (CCP). The requirement will have a significant impact on a large number of counterparties that engage in derivatives trading, including both regulated and unregulated entities. This note considers the scope and implications of the EMIR clearing requirements. For an overview of EMIR and timing of its implementation see Practice note, Hot topics: EMIR. | Practice Notes | Maintained |
| 3 | US and EU OTC Derivatives Regulation: a Comparison of the ... This Note summarizes and compares the comprehensive regulatory framework for over-the-counter (OTC) derivatives in the US under the Dodd-Frank Act and in the EU under the European Market Infrastructure Regulation (EMIR) and review of the Markets in Financial Instruments Directive (MiFID II), with a particular focus on implications for end users of derivatives. | Practice Notes | Maintained |
|
| 1 | Expert Q&A on the Regulation of Over-the-Counter Derivatives Michael Sackheim, Elizabeth Schubert and Antony Bryceson of Sidley Austin LLP explain how the recently enacted Dodd-Frank Act and the European Commission's proposed regulation of OTC derivatives will impact end-users. | Articles | 01-Nov-2010 |
|
| 1 | FSB reports to G20 on progress of financial regulatory reforms The Financial Stability Board (FSB) has published a letter (dated 15 April 2013) sent to the G20 ahead of its meeting on 18 to 19 April 2013, reporting on the progress being made in financial regulatory reforms. | Legal Update: archive | 22-Apr-2013 |
| 2 | ISDA 2013 EMIR NFC Representation Protocol and Timely ... ISDA has published an EMIR NFC Representation Protocol which can be used to amend the ISDA Master Agreement and a Timely Confirmation Amendment Agreement. | Legal Update: archive | 08-Mar-2013 |
| 3 | FSB reports on progress of financial regulatory reforms to G20 The Financial Stability Board (FSB) has published a letter (dated 12 February 2013) sent to the G20 ahead of its meeting on 15 to 16 February 2013, reporting on the good progress being made in financial regulatory reforms. | Legal Update: archive | 18-Feb-2013 |
| 4 | BCBS' finalised guidance for managing risk associated with ... The Bank for International Settlements (BIS) has published finalised guidance (BCBS241) for managing risk associated with the settlement of foreign exchange (FX) transactions, produced by the Basel Committee on Banking Supervision (BCBS). | Legal Update: archive | 15-Feb-2013 |
| 5 | FSB update on ongoing initiatives to strengthen global ... The Financial Stability Board (FSB) has published a press release reporting on its meeting in Zürich on 28 January 2013. | Legal Update: archive | 29-Jan-2013 |
| 6 | EMIR published in Official Journal The text of the Regulation on OTC derivatives, central counterparties and trade repositories (Regulation 648/2012) (EMIR) has been published in the Official Journal of the European Union (OJ). | Legal Update: archive | 27-Jul-2012 |
| 7 | Council of the EU adopts EMIR The Council of the EU has adopted EMIR (also known as the Regulation on over-the-counter (OTC) derivative transactions, central counterparties (CCPs) and trade repositories). | Legal Update: archive | 04-Jul-2012 |
| 8 | Delay in EU implementation of mandatory derivatives clearing An article has been published on ft.com reporting that the EU will not meet the G20 commitment to mandatory clearing of standardised over-the-counter (OTC) derivatives by January 2013. | Legal Update: archive | 29-May-2012 |
| 9 | Trade associations' joint letter on extra-territorial legislation A number of international trade associations have sent a joint letter to Tim Geithner, US Treasury Secretary and Michel Barnier, European Commissioner for Internal Market and Services, raising issues arising from extra-territorial legislation. | Legal Update: archive | 20-Apr-2012 |
| 10 | CPSS-IOSCO principles for financial market infrastructures The Committee on Payment and Settlement Systems and the Technical Committee of the International Organization of Securities Commissions have issued principles for financial market infrastructures and consultations on an assessment methodology and a disclosure framework relating to the principles. | Legal Update: archive | 16-Apr-2012 |
| 11 | European Parliament adopts EMIR The European Parliament has published a press release announcing it has adopted the European Market Infrastructure Regulation (EMIR) (also known as the Regulation on over-the-counter (OTC) derivative transactions, central counterparties (CCPs) and trade repositories). (Free access.) | Legal Update: archive | 29-Mar-2012 |
| 12 | ISDA issues recommendations on transparency for OTC ... The International Swaps and Derivatives Association (ISDA) has published recommendations for amending the proposed transparency requirements for over-the-counter (OTC) derivatives under the European Commission's proposals to revise the Markets in Financial Instruments Directive (2004/39/EC) (known as MIFID II). | Legal Update: archive | 15-Feb-2012 |
| 13 | Trialogue reach agreement on EMIR The European Parliament, Council of the European Union and European Commission have reached agreement on the proposed European Market Infrastructure Regulation (EMIR). | Legal Update: archive | 10-Feb-2012 |
| 14 | IOSCO follow-on report on trading of OTC derivatives The International Organization of Securities Commissions has published a follow-on analysis to its February 2011 report on trading of over-the-counter (OTC) derivatives. | Legal Update: archive | 25-Jan-2012 |
| 15 | BIS report on access to central counterparties in OTC ... The Bank for International Settlements has published a report by its Committee on the Global Financial System on the macrofinancial implications of alternative configurations for access to central counterparties in over-the-counter derivatives markets. | Legal Update: archive | 18-Nov-2011 |
| 16 | G20 declaration from the Cannes summit: financial services ... The G20 has published a leaders' final declaration following the G20 leaders' summit which was held in Cannes on 3 and 4 November 2011. | Legal Update: archive | 04-Nov-2011 |
| 17 | FSB's second progress report on implementing OTC ... The Financial Stability Board has published its second progress report on implementation of over-the-counter derivatives market reforms. | Legal Update: archive | 12-Oct-2011 |
| 18 | FSB and BCBS consult on measures to address the risks ... The Financial Stability Board and the Basel Committee on Banking Supervision are consulting on two documents that set out proposed measures to address the systemic and moral hazard risks posed by systemically important financial institutions (SIFIs). | Legal Update: archive | 20-Jul-2011 |
| 19 | FSB progress report on implementing G20 financial stability ... The FSB has published a progress report on the work which is underway to implement the financial stability recommendations agreed by the G20 at its November 2010 Seoul summit. | Legal Update: archive | 18-Apr-2011 |
| 20 | IOSCO implementation report on securitisation ... A task force of the International Organisation of Securities Commissions' (IOSCO) Technical Committee has published a report commenting on the implementation, by members, of its securitisation recommendations. | Legal Update: archive | 04-Mar-2011 |
| 21 | IOSCO report on trading of OTC derivatives The International Organization of Securities Commissions has published a report on trading of over-the-counter derivatives. | Legal Update: archive | 18-Feb-2011 |
| 22 | FSB report on implementing G20 reforms of OTC derivatives ... The Financial Stability Board has published a report on implementing the G20 commitments relating to over-the-counter (OTC) derivatives market reforms by the end of 2012. | Legal Update: archive | 26-Oct-2010 |
| 23 | Joint EU Commission and US CFTC statement focuses on ... The European Commission has issued a joint statement by Commissioner Michel Barnier and Gary Gensler, US Commodity Futures Trading Commission Chairman, on the financial reform agenda which focuses on the reform of the over-the -counter derivatives market. | Legal Update: archive | 29-Sep-2010 |
| 24 | European Commission legislative proposal on OTC ... On 15 September 2010, the European Commission published a legislative proposal on over-the-counter derivatives, central counterparties and trade repositories. | Legal Update: archive | 15-Sep-2010 |