EC stuns corporates by scrapping Emir swaps exemption
Industry confused as to why intragroup reporting obligation needs resurrecting
It took years to legislate and months to apply for approval.
After all that, European Union corporates are suddenly faced with the prospect that an exemption granted to them under key derivatives rules may now be snatched away again, less than four years after it was originally introduced. Specifically, the European Commission’s latest proposals released on December 7 last year would require corporates to resume reporting derivatives trades that transfer risk internally within groups.
“Those
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