Objectives of the session
The objective of this session is to discuss the possible issues that remain to be clarified regarding EMIR 2.2 proposals for improving the supervision of cross-border CCPs based in the EU and in third-countries and the potential impacts of these measures on the derivative market. This panel will also assess whether the temporary access measures and MOUs adopted by the EU and UK in order to mitigate the effects of a possible no-deal Brexit will allow an appropriate functioning of the derivative market in the short term (whatever the final outcome of EU-UK negotiations) and whether equivalence arrangements are an adequate solution for the longer term.
Points of discussion
Are there any issues remaining to be clarified regarding EMIR 2.2 proposals for the supervision of cross-border EU CCPs (e.g. in terms of allocation of responsibilities and decision-making powers)?
Are there any pending issues remaining to be addressed regarding the supervision of third-country CCPs in EMIR 2.2? What impact is expected from these measures? Will they allow the achievement of an appropriate level of cooperation with third-country jurisdictions?
Will the temporary access measures and MOUs adopted bilaterally by the EU and UK for the derivative market lead to the solving of the main issues related to Brexit in the short term? Is equivalence an adequate solution going forward?