Esma gears up for Emir challenge
The European Securities and Markets Authority will be responsible for some of the most complex issues within new European market infrastructure regulation, including the technical standards for central clearing. Chairman Steven Maijoor talks to Ramya Jaidev
The Council of the European Union and European Parliament are yet to agree a final text of the European market infrastructure regulation (Emir), but a definitive set of rules is expected before the end of the year. With full implementation due for the end of 2012, in line with a deadline set by the Group of 20 (G-20) nations, it doesn’t give much time for the newly formed European Securities and Markets Authority (Esma) to draw up the technical detail needed to put it into action.
Esma is well
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