SEC Issues Statement on European Central Counterparties Seeking to Register or Request Exemptions From the SEC

The Securities and Exchange Commission today issued a Policy Statement and Guidance focused on central counterparties (CCPs) authorized under the European Markets Infrastructure Regulation (EMIR) that may seek to access and operate in the U.S. securities markets. The Statement provides transparency into the Commission’s processes and highlights efficient ways that CCPs based in the European Union (EU) can register as a clearing agency or request exemptions from certain requirements under the Securities Exchange Act of 1934. The SEC has a longstanding and collaborative relationship with its European counterparts with respect to supervision and enforcement of regulated entities. The SEC understands that the European Commission is working towards the adoption of an equivalence decision shortly with respect to the SEC’s regime for regulating CCPs.