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ARTICLE · 27 DECEMBER 2022

EMIR 3.0 – The New EU Commission Proposal

Arendt & Medernach
Arendt & Medernach
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According to the EU Commission, it has become apparent that the regulatory burden on EU central counterparties (the entities carrying out the clearing of derivatives) is too high...

LuxembourgFinance and Banking
Daniel Petsch
Daniel Petsch
Henning Schwabe
Henning Schwabe
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ON 7 DECEMBER 2022, THE EU COMMISSION PUBLISHED A PROPOSAL FOR A REGULATION TO AMEND EMIR (AMONGST OTHERS), WITH THE PRIMARY AIM OF MAKING EU CLEARING SERVICES MORE ATTRACTIVE TO MARKET PARTICIPANTS.

According to the EU Commission, it has become apparent that the regulatory burden on EU central counterparties (the entities carrying out the clearing of derivatives) is too high, with the result that market participants tend to clear their derivatives outside the EU. The proposed new rules aim to reduce this regulatory burden to make the EU a more attractive business place for clearing services. The clearing capacity in the EU is considered to be important for the capital markets union (CMU).

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