Between 2015 and 2016 the Commission carried out an extensive assessment of EMIR. This included:
- a public consultation and a public hearing on the review of EMIR
- an evaluation of EMIR rules as part of the Call for evidence on the EU regulatory framework for financial services
- the publication of a general report on EMIR, submitted by the Commission to the European Parliament and the Council in November 2016
- the publication of an inception impact assessment on possible amendments to EMIR within the framework of the regulatory fitness and performance program (REFIT)
Following this evaluation, in May 2017 the Commission proposed a first set of amendments to EMIR. These amendments will introduce simpler and more proportionate rules on OTC derivatives that will reduce costs and burdens for market participants, without compromising financial stability.
The Commission also adopted a communication, outlining further changes to EMIR and setting out its intentions on how to respond to new emerging challenges in derivatives clearing.
In June 2017, the Commission proposed a second set of amendments to EMIR to enhance the supervision of third country CCPs and make the supervision of EU CCPs more coherent.
First set of amendments (May 2017)
- Proposal for a regulation amending EMIR
- Impact assessment and feedback
- Communication from the Commission on further changes to EMIR (PDF, 188 KB)
- Press release
- Frequently asked questions
- Speech by Vice-President Dombrovskis