Council of the EU resists centralised clearing house supervision
Esma wants more powers, but member states will only agree to provide it with more information
Member states of the European Union are unwilling to hand more powers to the European Securities and Markets Authority to supervise local clearing houses, a key official has warned.
Belgium currently holds the rotating presidency of the Council of the EU, which is seeking to finalise the third European Market Infrastructure Regulation (Emir 3.0) in negotiations with the European Commission and Parliament. The Council’s negotiating position, agreed in December 2023, rejected the transfer of
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