UK will not throw away European financial regulations after departing European Union according to UK economic secretary.
CFTC's Giancarlo stated stricter rules on overseeing non-EU clearing houses will damage US derivatives markets.
ESMA's Steven Maijoor has welcomed proposals to impose stricter controls on UK CCPs clearing euro-denominated derivatives.
The CFTC has extended its exemption from the uncleared margin rules for US firms doing business in Europe.
Kay Swinburne will lead the European Parliament’s team on CCP recovery and resolution.
Law firm Linklaters anticipates the rules could come into force by mid November if the EC accelerates implementation.
Equivalency will ease the capital cost for European banks doing business with US CCPs.
Delays to implementing margin rules for uncleared derivatives could run the risk of fragmentation and regulatory arbitrage.
Markus Ferber has stated London will be less attractive to do business if it does not comply with EU regulation.
The world’s largest fund management group has warned that it expects the UK’s “divorce” from the European Union to be “messy, drawn out and costly”.