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Par Benoît Sauvage, ABBL Adviser, Financial Market Regulation
Since a surprise rarely comes alone, the same day the EU Commission published its draft level 2 regulation on AIFMD it also produced part of the level 2 measures on EMIR. The texts are available now on the website of the EU Commission. One noticeable fact is that they are, contrary to the AIFM, a real and in-time copy paste of the EMIR advice given by ESMA to the EU Commission at the end of September 2012.
These measures will deal with the direct and indirect clearing obligation (an addition introduced in level 2 by ESMA), and will also cover the basics for computation of margins and other collateral as well as the reporting template to the Trade Repositories. This does not mark...
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