On Tuesday 12 June, the European Parliament reached its negotiating position with the Council of the EU on the revision of the 'EMIR' regulation, which governs transactions in derivative financial products in the EU, to reduce the administrative burden on non-systemic operators (see EUROPE 11781).
Under the agreement reached between the political groups, small financial companies that are counterparties in a transaction in over-the-counter derivatives would be exempted from the obligation to...