Julian Hammar, Jeremy Jennings-Mares, James Schwartz – Morrison & Foerster
In this session, we will provide an update on recent developments affecting derivatives in the US and EU and prospects for regulatory harmonization between the two jurisdictions. Topics covered include:
With respect to the EU:
- aspects of Mifid II relating to derivatives, including requirements in relation to trading, margin, transaction reporting and position limits; and
- current proposals regarding the supervision of central counterparties and potential amendments to Emir.
With respect to the US:
- the recent Treasury Reports and their suggestions for cross-border matters; and
- the CFTC’s order exempting EU trading facilities from the requirement to register with the CFTC, comparability determination with respect to the EU margin rules and extension of existing relief in relation to swaps data reporting.