The European Commission’s latest proposals to take forward the Capital Markets Union (CMU) action plan contain a long-awaited deliverable from the plan — an attempt to harmonise insolvency practices across the Union — as well as continuing efforts to make it easier to raise capital on EU public markets. Other proposals were not in the original action plan but address issues in the clearing sector that have arisen as a result of recent market volatility and the continued dominance of UK clearing houses in EU clearing.
EMIR 3.0
The proposals contain a few different strands amending EMIR and other regulations to address the current issues in EU clearing.
Continued dominance of UK central counterparties (CCPs) in EU…
