Principles for Financial Market Infrastructures

ESMA Publish Report on Guidelines and Recommendations Relating Principles for Financial Market Infrastructures in Respect of Central Counterparties

Posted on

On August 5, ESMA published a report setting out guidelines and recommendations for the implementation of the principles for financial market infrastructures in respect of central counterparties (CCPs) published by the Committee on Payment and Settlement Systems (CPSS) and the International Organization of Securities Commissions (IOSCO).

The guidelines and recommendations apply to competent authorities and trade repositories when carrying out their duties under EU Regulation 648/2012 on OTC derivative transactions, central counterparties and trade repositories (EMIR).  As is explained in the report, the purpose of the guidelines and recommendations is to ensure that EMIR, and the regulatory technical standards made under it, is fully harmonized and compliant with the CPSS and IOSCO principles.  Report.

CPSS and IOSCO Final Report on Principles for Financial Market Infrastructures

Posted on

On April 16, the Committee on Payment and Settlement Systems (CPSS) and IOSCO published the final report on the Principles for Financial Market Infrastructures, which updates the risk management and related standards applicable to financial market infrastructures. CPSS and IOSCO also released for comment the Disclosure Framework for Financial Market Infrastructures and the Assessment Methodology for the Principles for FMIs and the Responsibilities of Authorities. Comments must be submitted by June 15. SEC Release.

Regulators Seek Comments on Financial Market Infrastructures Report

Posted on

On March 10, the Committee on Payment and Settlement Systems (CPSS) and the Technical Committee of the International Organization of Securities Commission (IOSCO) released for comment a report on the Principles for Financial Market Infrastructures. The consultative report contains updated and new proposed international principles for systemically important payment systems, central securities depositories, securities settlement systems, central counterparties, and trade repositories. Comments must be submitted by July 29. SEC Release.