EU Court Annuls European Location Policy for CCPs
The General Court of the European Union has overturned a European Central Bank framework requiring large central counterparties (CCPs) dealing with euro-denominated transactions to be located within the Eurozone. The court ruled that the ECB lacked the authority to require CCPs involved in clearing securities to be located within the ...
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
Blog
Bank of England and ECB Reach Deal on Financial Stability
The Bank of England and the European Central Bank have ended a four-year saga over the City of London’s clearinghouses, which required that these offices be near the Eurozone so they can be easily monitored in the event of an emergency. Under the agreement the BoE will provide the ECB ...
-
PremiumDelayed UK antitrust case underscores compliance, reputational risks
Antitrust infringement cases in the United Kingdom can run on for years, but there’s a question whether issuing fines that are dwarfed by the revenues of those organisations involved is a worthy deterrent—particularly if they are imposed over a decade after the misconduct ended. It’s also debatable whether the first ...
-
PremiumDespite uncertainty, whistleblowers still have incentives to report misconduct
Whistleblowing in the United States is being buffered by uncertainty from regulators who are backing off policing corruption and consumer protections. Regulators like the Department of Justice and the Securities and Exchange Commission are being thrown into disarray by layoffs and restructuring. Still, whistleblowers will likely continue coming forward.