EC Proposes Amendments To EMIR On Third-Country CCPs

The European Commission ("EC") published three draft delegated acts (see here, here and here) concerning supervision of third-country central counterparties ("TC-CCPs") by the European Securities and Markets Authority ("ESMA").

Specifically, the draft delegated acts would amend EMIR to address (i) "the minimum elements to be assessed by ESMA when assessing third-country CCPs' requests for comparable compliance," (ii) "the criteria that ESMA should take into account to determine whether a central counterparty established in a third-country is systemically important or likely to become systemically important," and (iii) "fees charged by ESMA to central counterparties established in third countries."