The European Securities and Markets Authority (ESMA) has today published an opinion on the composition of the CCP Colleges to clarify which authorities qualify as a college member under Article 18(2)(c) of EMIR following the establishment of the SSM and to resulting voting rights.
The opinion clarifies that where the ECB has taken over the direct prudential supervision of any of the clearing members of the CCP that are established in the three Member States with the largest contributions to the default fund of the CCP, it should join the college pursuant to Article 18(2)(c) of EMIR.
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ESMA Clarifies The Implications Of The Entering Into Force Of The SSM On The Composition Of The CCP Colleges
Date 21/05/2015
