Regulatory Alerts2025-10-09
Final Report on EMIR 3 RTS on model validations
The European Securities and Markets Authority (ESMA) issued final draft Regulatory Technical Standards to implement EMIR 3 requirements for validating changes to central counterparty models and parameters. The standards establish specific numerical thresholds and qualitative criteria to distinguish between significant changes requiring standard validation and non-significant changes eligible for an accelerated procedure. Additionally, the document defines the list of required documents and information that central counterparties must submit to demonstrate compliance with these validation procedures.
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