It’s EMIR vs Dodd-Frank — and for Australians it’s déjà vu all over again
On 15 March 2013, the first set of regulatory technical standards relating to the European Union’s implementation of the G20 commitments on over-the-counter derivatives will come into force under the European Market Infrastructure Regulation (EMIR). With this come many obligations, some of which can have a reach beyond Europe. For Australians, it sounds like Dodd-Frank all over again.
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The April 2013 issue of King & Wood Mallesons’ China Bulletin is available now.
The 2013–14 Budget contains significant changes to the Australian taxation system to address revenue shortfalls and to seek to fund spending promises.