EMIR — reporting to start in February
The European Market Infrastructure Regulation (EMIR), which came into force on 16 August 2012, introduces new requirements to reduce the risks associated with the derivatives market and thus improve transparency. In this regard, it provides, inter alia, for a reporting obligation of all derivatives to a trade repository.
The European Securities and Markets Authority (ESMA) approved the registration of six trade repositories so far and, according to article 5 of the Commission Implementing Regulation no 1247/2012, the reporting for all asset classes underlying derivatives (such as commodities, credit, foreign exchange and equity interest rates) shall start 90 days after the effective date of first registration(s), i.e. on 12 February 2014.
Thus, all financial and non-financial counterparties being a party to any derivative contract (including OTC derivative contracts and exchange-traded contracts) will be required to ensure that the details of these contracts as well as any modification or termination thereof are reported to a registered trade repository…
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News from Wildgen
Briefings from Wildgen
The UCITS V Directive focuses on three main areas — which are presented in this briefing from Wildgen.
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