The European Commission has adopted its first equivalence decisions for the regulatory regimes of central counterparties in Australia, Hong Kong, Japan and Singapore.
EU Vice-President Michel Barnier stated: “Today’s decisions show that the EU is willing to defer to the regulatory frameworks of third countries, if they meet the same objectives as EU rules. We have been working in parallel on assessing twelve additional jurisdictions and finalising those assessments is a top priority. This includes the United States: we are in close and continued dialogue with our colleagues at both the SEC and CFTC as we develop our assessments of their respective regimes and discuss their approaches to deference.”
View First ‘equivalence’ decisions for central counterparty regulatory regimes adopted today, 30 October 2014