Regulatory prospects: 2012 and beyond

EMIR (European Market Infrastructure Regulation)

This text was proposed by the European Commission (EC) on 15th September 2010 and the objective for the end of the year 2010 was adoption in April 2011, with the regulation to come into force during the second half of 2012. At the end of 2011, it was clear that the complexity of the subjects being considered and the need to ensure the consistency of the European text with its American equivalent somewhat delayed the progress of the work in the EC. The new schedule specifies adoption at the start of 2012, followed up with work by ESMA aimed at compiling the technical standards and proceedings by the end of June 2012.This would enable the regulation to come into effect before the end of 2012, in line with the schedule set by the G20.