ESMA to cooperate with South African regulators on CCPs

The Financial Services Board (FSB) of South Africa today announced it established a Memorandum of Understanding (MoU) under the European Markets Infrastructure Regulation (EMIR) with the European Securities and Markets Authority (ESMA).

This MoU establishes cooperation arrangements, including the exchange of information, regarding Central Counterparties (CCPs) which are established and authorized or recognized in South Africa, and which have applied for European Union (EU) recognition under European Market Infrastructure Regulation (EMIR).

EMIR provides for cooperation arrangements between ESMA and the relevant non-European Union (non-EU) authorities whose legal and supervisory framework for CCPs have been deemed equivalent to EMIR by the European Commission.

For the official announcement from the FSB click here.

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