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ESMA to cooperate with New Zealand's regulators on CCPs

The European Securities and Markets Authority (ESMA) has established a Memorandum of Understanding (MoU) under the European Markets Infrastructure Regulation (EMIR) with Reserve Bank of New Zealand and Financial Markets Authority of New Zealand.

The MoU establishes cooperation arrangements, including the exchange of information, regarding Central Counterparties (CCPs) which are established and authorised or recognised in New Zealand, and which have applied for EU recognition under EMIR.

EMIR provides for cooperation arrangements between ESMA and the relevant non-EU authorities whose legal and supervisory framework for CCPs have been deemed equivalent to EMIR by the European Commission.

The MoU is effective as of 28 February 2017.