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By François MASQUELIER, Chair of ATEL
Re-REFIT of EMIR? Eventually, maybe not. We all know why the European Commission had to review EMIR in what some are calling EMIR 3. The context and the problems, in another field of financial instruments, different from OTC derivatives, encountered by certain energy companies during the post-Covid crisis prompted the European legislator to reconsider EMIR, which in any case, like any measure, would have been subject to review. Even if the target was not the right one, they thought of reviewing and tightening EMIR. Fortunately, European treasurers managed to make it clear that these were bad ideas and pushed to preserve the status quo achieved by EMIR refit. "You don't change a winning team".....
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