The Joint Committee of the European Supervisory Authorities (ESAs) have published their concerns regarding the delayed adoption of the draft RTS on risk mitigation techniques for non-centrally cleared OTC derivatives. The ESAs consider that delayed adoption of the RTS could have a significant negative impact and asks the Commission to reconsider the calendar for the adoption of the RTS. ISDA earlier highlighted its concerns about the timetable for introducing the global margining framework for non-cleared derivatives in a June 2016 paper (as reported in last week’s Legal Shorts).
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