The new directive and regulation aim to separate prudential requirements for banks and investment firms, but market participants denounce unnecessary complexity and a ‘copy-and-pasting’ exercise from CRR/CRD rules
The first batch of our data has revealed that most market participants expect both the year-end and June 2023 phase-outs to go relatively smoothly, although additional guidance in some areas remains essential
Sources at ISDA’s 2021 Europe conference spoke of the importance for the EU to complete its capital markets union to secure a larger clearing market share
