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By François MASQUELIER, Chairman of ATEL
EMIR (the European Market Infrastructure Regulation) was adopted in 2012 as a response to the financial crisis to better manage and monitor the derivatives and related risks. However, in recent years, the EU Commission carried out an important assessment of EMIR to see whether it would be possible to amend it and to potentially simplify it, while maintaining enough degree of security around financial derivatives. The objective was to amend some provisions to eliminate disproportionate costs and burdens on certain derivative counterparties without compromising global aim of this regulation. On 4th May 2017, the EU Commission proposed a regulation (the so-called “EMIR refit” – Regulatory Fitness and Performance program)...
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