ESMA Publishes Draft Regulatory Technical Standards on Changes to CCPS’ Activities And Models
The European Securities and Markets Authority, the EU’s securities markets regulator, today published its Final Report containing draft regulatory technical standards (RTS) relating to changes to central counterparty (CCP) services and activities, as well as models and parameters under the European Markets Infrastructure Regulation (EMIR).
EMIR requires a CCP wishing to extend its business to additional services or activities, that are not covered by the initial authorisation, to submit a request for extension of authorisation to its competent authority (Article 15). Prior to making any significant change to its risk models or parameters, a CCP must also obtain validation from its competent authority and ESMA (Article 49).
The Draft RTS specify:
- the conditions under which additional services or activities to which a CCP wishes to extend its business are not covered by the initial authorisation and therefore require an extension of authorisation;
- the conditions under which changes to the CCP’s models and parameters are significant and therefore require a validation; and
- the procedures for consulting the CCP college on whether those conditions are met.
The European System of Central Banks, the European Banking Authority and other relevant authorities have contributed to the drafting of the RTS.
ESMA submits the draft RTS to the European Commission for endorsement, following which the Commission Delegated Regulation will be subject to the non-objection of the European Parliament and the Council.
+33 (1)58 36 64 23
Final Report RTS Article 15 And 49 EMIR
Latest News from
Spring 2021 Economic Forecast: Rolling up sleeves14/05/2021 13:25:00
The Spring 2021 Economic Forecast projects that the EU economy will expand by 4.2% in 2021 and by 4.4% in 2022.
Coronavirus variants: Commission calls for limiting essential travel from India14/05/2021 09:25:00
The Commission calls on EU Member States to take coordinated action to further restrict travel from India on a temporary basis, with a view to limiting the spread of the B.1.617.2 variant first detected in India.
Statement by Executive Vice-President Margrethe Vestager following today's Court judgments on the Amazon and Engie tax State aid cases in Luxembourg13/05/2021 15:25:00
Statement given yesterday by Executive Vice-President Margrethe Vestager following the Court judgments on the Amazon and Engie tax State aid cases in Luxembourg.
Europe's Digital Decade: Commission launches consultation and discussion on EU digital principles13/05/2021 13:25:00
As a follow-up to its Digital Decade Communication of 9 March, the Commission yesterday launched a public consultation on the formulation of a set of principles to promote and uphold EU values in the digital space.
European Green Deal: Commission aims for zero pollution in air, water and soil13/05/2021 12:43:00
The European Commission yesterday adopted the EU Action Plan: “Towards Zero Pollution for Air, Water and Soil” – a key deliverable of the European Green Deal and the main topic of this year's EU Green Week.
Sahel and Central Africa: €210 million in EU humanitarian aid12/05/2021 09:25:00
The EU is reaffirming its solidarity with vulnerable people in countries in the Sahel and Central Africa through a humanitarian budget of €210 million in 2021.
Security and defence: EU to move forward on common security and defence11/05/2021 15:25:00
The Council yesterday approved conclusions affirming its determination to move forward on implementing the EU's security and defence agenda, enabling the EU to take more responsibility for its own security.
Trade of dual-use items: new EU rules adopted11/05/2021 13:25:00
The EU has upgraded its legislation on the export controls applicable to sensitive dual-use goods and technologies such as cyber-surveillance tools.
Conference on the Future of Europe: make your voice heard10/05/2021 15:25:00
Conference on the Future of Europe: make your voice heard.