EU institutions are simplifying rules applying to non-financial counterparties, small financial counterparties and pension funds using financial derivative products.
The Romanian presidency of the Council and the European Parliament reached today a preliminary agreement on improving the existing regulatory framework applying to the over-the-counter (OTC) derivative market. The deal will now be submitted for endorsement by EU ambassadors.
In the aftermath of the financial crisis, the EU put in place a solid and effective framework for bringing more transparency and reducing systemic risk in the derivative markets. Today, we agreed targeted adjustments that will preserve all the core elements of the reform, whilst simplifying the rules and making them more proportionate.
The European Market Infrastructure Regulation (EMIR), adopted in 2012, forms part of the European regulatory response
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