Regulatory Alerts2022-02-28
Memorandum of Understanding between ESMA, the Reserve Bank of New Zealand and the Financial Markets Authority Related to CCPs Established in New Zealand
The European Securities and Markets Authority, the Reserve Bank of New Zealand, and the Financial Markets Authority established this Memorandum of Understanding to define cooperation arrangements for the supervision of New Zealand central counterparties recognized under EMIR. The agreement mandates information exchange and coordinated oversight to ensure these entities comply with EU recognition conditions and to monitor risks to the European financial system. It outlines specific procedures for notification of material events, emergency situations, and requests for information to facilitate effective cross-border regulatory enforcement.
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