19 December 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  |  755 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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job title Product Development Director
location London
member since 2012
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Co-founded Impendium in 2006. Previously head of Client Services for Deutsche Banks top 100 customers.

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