Michel Barnier Welcomes EMIR RTS Approval

In a statement published yesterday, Michel Barnier, European Commissioner for Internal Market and Services, welcomed the decision of the EU Parliament not to object to the EMIR Regulatory Technical Standards (RTS) on risk mitigation and CCPs at a vote scheduled for yesterday.

He confirmed that the RTS were now likely to enter force in mid-March and that the phasing-in period for non-financial counterparties would be three years.