EMIR: Political agreement on ESMA powers reached at ECOFIN

24 January 2012

At the ECOFIN Council meeting, EU finance ministers reached a political agreement on ESMA powers paving the way for the final adoption of EMIR in February.

The main change to a general approach agreed by the Council in October relates to the procedure for authorising CCPs, in particular to the powers of the CCP's "home" Member State, i.e. the Member State of establishment, versus those of the college of supervisors and the European Securities and Markets Authority (ESMA).

Press release

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