EC’s McGuinness: active accounts rule ‘light’ on largest firms
Active clearing account requirement not as ambitious as she hoped, says commissioner
The commissioner for financial services at the European Commission has expressed dissatisfaction with the direction taken by regulators on upcoming rules requiring firms to maintain an active account at a clearing house within the European Union.
The final text of the European Market Infrastructure Regulation, dubbed Emir 3.0, is expected to be released by mid-April, ahead of the current European Parliament term’s end in May. It will require firms to clear a representative proportion of their
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