ESMA updates its EMIR Q&A
The European Securities and Markets Authority (ESMA) has issued today an update of its Q&A on practical questions regarding the implementation of the European Markets Infrastructure Regulation (EMIR).
The updated Q&A includes new answers in relation to:
- Indirect clearing;
- Reporting of collateral;
- Swap reporting to trade repositories; and
- Contracts with no maturity.
The purpose of this document is to promote common supervisory approaches and practices in the application of EMIR. It provides responses to questions posed by the general public, market participants and competent authorities in relation to the practical application of EMIR.
This document is aimed at national competent authorities (NCAs) and aims to ensuring that NCA’s supervisory activities and actions are converging along the lines of the responses adopted by ESMA. It should also help investors and other market participants by providing clarity on the requirements under EMIR.