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Esma rushes short selling consultation

Tuesday 24 January 2012 - by Andrew.Hickley@gfsnews.com


Esma flag - photo by Esma


With Esma required to write technical standards for clearing and reporting of OTC derivatives by 30 June 2012, the letter, spearheaded by the European Banking Federation and the Association for Financial Markets in Europe, called on the EU to miss a G20-imposed deadline of 2013.

"We do not believe that rigid adherence to such a timetable (even in the name of EU compliance with G20 regulatory reform objectives) should be the priority if it comes at the expense of robust, efficient regulation," said the letter, sent last week.

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