EU Hands Japan Equivalence Nod On OTC Derivatives Trades
Law360, London (April 26, 2019, 5:22 PM BST) -- The European Commission has struck a deal with Japan's financial services regulator to recognize rules on over-the-counter derivatives as “equivalent” in a move it hopes will strengthen ties between the two jurisdictions' financial sectors.
The European Union’s executive arm announced Thursday it has recognized that the Japan Financial Services Agency's rules covering the legal, supervisory and enforcement arrangements for OTC derivative contracts that are not cleared by a central counterparty meet EU standards under the European Market Infrastructure Regulation, known as EMIR.
“The European Commission's decision will alleviate the regulatory burden for EU and Japanese companies,” the executive body said in...
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