Securities and markets regulators, acting under the umbrella of IOSCO's Asia-Pacific Regional Committee, have written to the Commission expressing concerns over ESMA's assessments of third country rules. For ESMA to recognise third country central counterparties (CCPs), rules regulating them must be equivalent to those under the European Market Infrastructure Regulation (EMIR). Asia-Pacific regulators propose that, to introduce greater transparency, IOSCO's "Principles for Financial Market Infrastructures" should be the benchmark for the equivalence assessments. (Source: Recognition of Asia-Pacific CCPs under EMIR)