EMIR
The European Market Infrastructure Regulation (EMIR) is the cornerstone body of European legislation for the regulation of over-the-counter (OTC) derivatives.
The team
EMIR came in the aftermath of the financial crisis as part of the global OTC derivatives reform, with the aim to increase transparency and reduce systemic risk in derivatives markets.
Who is in scope of EMIR? Financial firms such as banks, fund management companies, insurance companies, as well as some non-financial corporates with substantial treasury activities, are all within the scope once engaged in derivatives transactions, with regulatory requirements significantly increased if transactions happen over-the-counter. In practice, due to the widespread use of certain derivative contracts such as FX forwards, great many firms may be affected by the Regulation.
The Team
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