EU Council Confirms Non-objection to RTS on CCP Colleges

July 24, 2013

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Following the EU Council meeting held on 22 July 2013, the Council announced in a press release that it has decided not to oppose adoption by the Commission of a regulation on technical standards (RTS) on colleges for central counterparties (CCPs). This is in line with a recommendation given by the Council’s general secretariat on 15 July 2013 that the Council should not raise objections to the delegated Regulation.

The European Commission adopted the Regulation required under Article 18 of EMIR in May 2013 and it was published shortly thereafter in June 2013 (see this blog post for more details).

The Regulation will be published in the Official Journal of the European Union (OJ) unless the European Parliament objects and will enter into force on the twentieth day following its publication in the OJ.