This Commentary presents a critical examination of the 2012 European Market Infrastructure Regulation (EMIR) and its 2019 Refit. Mark Hsiao evaluates the effectiveness of this EU framework in regulating over-the-counter (OTC) derivatives, exploring how the legislation fits into a broader global context while underscoring its pluralist elements.
This Commentary presents a critical examination of the 2012 European Market Infrastructure Regulation (EMIR) and its 2019 Refit. Mark Hsiao evaluates the effectiveness of this EU framework in regulating over-the-counter (OTC) derivatives, exploring how the legislation fits into a broader global context while underscoring its pluralist elements.
Key Features:
- Adopts a unique pluralist approach to financial regulation
- Provides a detailed and systematic analysis of each article in the EMIR and Refit
- Explains key regulatory theories and techniques in the context of the EMIR articles
- Draws on reflexive and narrative theories to discuss the need for a post-contractual novation
Practitioners in commercial law, European law, and finance and banking law will greatly benefit from this insightful Commentary on the interpretation and application of EMIR and Refit. It is also an essential resource for students and scholars seeking a deeper understanding of the OTC regulatory framework.
Arvustused
Mark Hsiao's A Commentary on EMIR and Refit is a must-have for lawyers like myself who work on cross-border financial transactions and regulatory matters. Its thorough analysis and practical insights make it an indispensable guide for lawyers and academics alike. -- Andrew Fei, Partner, King & Wood Mallesons, Hong Kong
Contents
1 The Regulatory Rationales of the EMIR 2012 and the EMIR Refit 2019
2 Subject Matter and Scope, Definitions, and Intragroup Transactions
3 Clearing, Reporting, and Risk Mitigation of OTC Derivatives
4 Reporting obligation, non-financial counterparties and risk-mitigation
techniques for OTC
derivative contracts not cleared by the CCP
5 Title III: Authorisation and Supervision of CCPs
6 Title IV: Requirements for CCPS
7 Prudential Requirements
8 Registration and Supervision of Trade Repositories
9 Relation with Third Countries
Mark Hsiao, Associate Professor, School of Law, City University of Hong Kong
