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EMIR RTS on direct effect of contracts within the EU adopted

24 February 2014  |  1021 views  |  0

The European Commission has adopted regulatory technical standards (RTS) on contracts that have a direct, substantial and foreseeable effect of contracts within the EU to prevent the evasion of rules and obligations in connection with the European Markets Infrastructure Regulation (EMIR).  The RTS, as prepared by the European Securities and Markets Authority, which set out:

· how such contracts will be considered to have a direct, substantial and foreseeable effect within the Union; and

· cases where it is necessary or appropriate to prevent the evasion of the rules;

were endorsed by the Commission without amendments. 

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