European Commission Endorses EMIR RTS Relating to Non-EU Counterparties

On February 13, the European Commission updated its webpage on EMIR (the Regulation on OTC derivative transactions, central counterparties (CCPs) and trade repositories) (Regulation 648/2012) to announce that it has adopted regulatory technical standards (RTS) specifying the contracts that are considered to have a direct, substantial and foreseeable effect within the EU, and to prevent the evasion of rules and obligations. Webpage.