28 July 2014

Stuart Clark

Stuart Clark - Impendium Systems

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Financial Services Regulation

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Commission adopts regulation on penalties for TR under EMIR

01 April 2014  |  639 views  |  0

Under the Regulation on OTC derivatives, central counterparties and trade repositories (EMIR), the European Securities and Markets Authority (ESMA) is responsible for the registration and supervision of trade repositories and has the power to impose fines and periodic penalty payments to trade repositories.

ESMA's powers to fine or impose penalties on trade repositories are set out in delegated acts which the European Commission has adopted. These specify the procedures to be followed by ESMA in the exercise of its power to impose fines or periodic penalty payments, including rights of defence for trade repositories subject to a sanctioning procedure.

Related link:

http://ec.europa.eu/transparency/regdoc/rep/3/2014/EN/3-2014-1537-EN-F1-1.Pdf 

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name

Stuart Clark

job title

Product Development Director

company name

Impendium Systems

member since

2012

location

London

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