Shearman Logo

balance scale

Aug 04, 2013

Alert: ESMA Consults on Extraterritoriality

Subscribe

Jump to...

 
The extraterritorial effect of new financial regulation is a controversial issue, fundamental to the business of banks, brokers, funds and their clients. A consultation paper containing proposed rules on certain extraterritorial issues arising out of the European Market Infrastructure Regulation (EMIR) was recently published. On the whole, it does not amount to a ‘territory grab’. For derivative trades, non-EU entities guaranteed by EU entities or transacting through EU branches will fall within the scope of EMIR. Further details of the proposed new rules are set out below.

View full memo, "ESMA Consults on Extraterritoriality"

Authors and Contributors

Barnabas Reynolds

Partner

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5528

+44 20 7655 5528

London

Thomas Donegan

Partner

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5566

+44 20 7655 5566

London

Geoffrey Goldman

Partner

Derivatives & Structured Products

+1 212 848 4867

+1 212 848 4867

New York

Russell Sacks

Partner

Financial Institutions Advisory & Financial Regulatory

+1 212 848 7585

+1 212 848 7585

New York

James Duncan

Partner

Finance

+44 20 7655 5757

+44 20 7655 5757

London

Patrick Clancy

Partner

Finance

+44 20 7655 5878

+44 20 7655 5878

London

John Adams

Partner

Investment Funds

+44 20 7655 5740

+44 20 7655 5740

London