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    EC Deems Derivatives Regime in Certain Countries to be Equivalent

    July 06, 2021

    EC published the Implementing Decisions determining that regulatory framework for derivatives transactions in Australia, Brazil, Canada, Hong Kong, Singapore, and US is equivalent to the EU rules. The Decisions recognize the legal, supervisory, and enforcement arrangements applicable to derivatives transactions supervised by APRA, BCB, OSFI, HKMA, MAS, and US Agencies as equivalent to certain requirements of the European Market Infrastructure Regulation (EMIR). The covered US Agencies are Farm Credit Administration, FDIC, Federal Housing Finance Agency, FED, and OCC. This Decision shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

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    Effective Date: July 26, 2021

    Keywords: Europe, Asia Pacific, Americas, Hong Kong, Australia, Singapore, US, Canada, Brazil, Banking, Securities, Equivalence Decisions, Derivatives, EMIR, US Agencies, HKMA, APRA, MAS, OSFI, BCB, EC

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