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European Derivatives Regulation: Spotlight on the European Markets and Infrastructure Regulation (EMIR)

Of late it has been difficult to avoid media coverage and speculation relating to forthcoming regulatory changes in the derivatives world and the on-going discussion about cross border implications, so called “extra territoriality”. In Europe, one of the current hot topics is EMIR, seen as Europe’s derivatives equivalent to the Dodd Frank Act . The genesis of EMIR and indeed, the majority of other key current derivatives regulatory changes, being MiFID II (together with MiFIR) and the CRD IV legislative package in Europe and the Dodd Frank Act in the United States was the commitment made at the 2009 G20 summit in Pittsburgh, the key objective being to increase transparency and reduce systemic risk.

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