Tuesday October 15 2013

News Source: Global Exchanges

Focus: Derivative Market Segment

Type: General




The German Federal Financial Supervisory Authority (BaFin) has launched a consultation on audits for non-financial counterparties (NFCs) not exceeding the clearing threshold under the European Market Infrastructure Regulation (EMIR). Certain German corporates that qualify as NFCs are required under German law to have their compliance with EMIR certified by auditors if they enter into a specified volume of over-the-counter (OTC) derivatives. BaFin is empowered to issue regulations specifying the details of these audits and the auditors’ certificate.

The consultation is intended to prepare the issue of such regulations and will be open until 30 October 2013.

Click on the above link for more details.