ESMA to cooperate with Mexican and South African Regulators on CCPs
The European Securities and Markets Authority (ESMA) has established two Memoranda of Understanding (MoUs) under the European Markets Infrastructure Regulation (EMIR) with the Mexican Comisión Nacional Bancaria y de Valores (CNBV) and the South African Financial Servcies Board (FSB) respectively.
The MoUs establish cooperation arrangements, including the exchange of information, regarding Central Counterparties (CCPs) which are established and authorised or recognised in Mexico or South Africa, and which have applied for EU recognition under EMIR.
EMIR provides for cooperation arrangements between ESMA and the relevant non-EU authorities whose legal and supervisory framework for CCPs have been deemed equivalent to EMIR by the European Commission.
The MoUs are effective as of 26 January 2016 for the one with Mexico (CNBV) and 30 November 2015 for the one with South Africa (FSB) respectively.