ESMA - Final Report on the active account requirement under EMIR 3
ESMA published its final report on the Regulatory Technical Standards (RTS) specifying the conditions under which the active account requirement should be met, as mandated under the European Market Infrastructure Regulation (EMIR) 3.
ESMA has streamlined the operational conditions and the stress-testing in response to feedback to its public consultation. Additionally, compared to the initial proposal outlined in the consultation document, the final report includes a simplification of the reporting requirements related to risks and activities, the representativeness obligation and the fulfilment of the operational conditions.
The RTS will now be submitted to the European Commission (EC) for endorsement, following which it will be subject to scrutiny by the European Parliament and the Council.
