Finance: Derivatives
House of Lords

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Photo of Lord Myners

Lord Myners (Labour)

To ask Her Majesty's Government whether they have any plans to introduce rules limiting the ownership by any one party of a controlling equity interest in a central clearing party or swap execution facility for equities and/or derivatives.

Photo of Lord Sassoon

Lord Sassoon (Commercial Secretary, HM Treasury; Conservative)

On 15 September the European Commission published a proposal for a European markets infrastructure regulation which covers issues relating to organisational and risk management standards for central clearing counterparties (CCPs). While this proposal is still subject to negotiations in the European institutions, it addresses the issue of ownership and lays out requirements for disclosing controlling stakes in a CCP and handling potential conflicts of interest. The proposed regulation does not limit the ownership of a controlling equity interest by any one party in a CCP.

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