The European Commission published an updated version of its frequently asked questions (FAQs) on EMIR (the Regulation on OTC derivatives, central counterparties (CCPs) and trade repositories (Regulation 648/2012)).

Two new questions and answers (numbers 14 and 15) were added to Part II of the FAQs addressing: (i) What does the concept of "undertaking" in the definition of "non-financial counterparty" cover? and (ii) Are municipalities subject to EMIR requirements?