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EU-US financial regulation- another celebrity marriage hits the rocks

The FT reports that the EU is threatening to effectively derail the Transatlantic Trade and Investment Partnership (TTIP) talks, unless the US includes coordination of financial regulation as part of the package. Leaked documents confirm that the EU intends to up the ante by excluding discussion on all financial services, a move that would significantly […]

EU 3rd Country clearing as clear as mud

An interesting article in yesterday’s Risk magazine highlights the potentially very costly confusion and delay surrounding third-country CCP authorisation under CRD IV. Non-EU clearers have temporary QCCP status until 15th June, enabling their clients to benefit from a low 2% risk-weight. After that date, in the absence of qualification, risk weights will soar to 20% […]

EU Commission Memo on EMIR Implementation to Non-EU CCPs

Introduction On 16 May 2013, the EU Commission published a memo on the implementation of the framework under Article 25 of EMIR for recognising CCPs that are established outside of the EU (“Non-EU CCPs”) and which wish to provide services to market participants that are established within the EU. The Commission suggests that, in practice, […]

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