CFTC commissioners lash out at EC clearing proposal
Push to expand oversight of US CCPs is “clear breach” of 2016 equivalence deal, Quintenz says
US regulators have reacted angrily to European proposals on the supervision of third-country central counterparties (CCPs), arguing they would breach a 2016 equivalence agreement in which the two jurisdictions deferred to each other’s rules.
The European Commission (EC) issued its proposal in June 2017. It would separate CCPs into two tiers – those that are systemically important and those that are not – based on a judgement by the European Securities and Markets Authority (Esma). Systemically
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