AFM And DNB Publish Joint Guidelines For EMIR 3 Implementation

The revised European Market Infrastructure Regulation (EMIR 3), which came into effect on 24 December 2024, aims to enhance the transparency, stability, and safety of the financial markets within the EU.

To support institutions in implementing the new requirements, the Authority for Financial Markets (AFM) and the Dutch Central Bank (DNB), the designated supervisory authorities for EMIR in the Netherlands, have issued joint guidelines.

Background

In 2012, the EU adopted the first iteration of EMIR ((EU) nr. 648/2012, as amended). The aim of EMIR was to increase transparency in the over-the-counter derivatives markets, mitigate counterparty credit risk, and reduce operational risk.