News: EMIR 2 Progress at the European Parliament18 June 2018 | Bill Hodgson
As spotted by Roger Coenen, the European Parliament voted to move forward with changes to EMIR. Follow the link below for the full text, the highlights of the vote outcome are:
- To adjust the cleared threshold to exclude Small Financial Entities from clearing, based on their portfolio size/volume
- Similarly Non-Financial Counterparties (NFCs) also to see revised threshold for clearing
- That a trade between an FC and an NFC who is outside clearing, should be reported by the FC
- Corporate groups which include an NFC can exclude the NFC from reporting
- Another extension to the Pension fund excemption from clearing as "no solution has been found" to enable them to participate.