The European Parliament has delayed a key meeting on market reforms and demanded bigger role for ESMA.
The European Parliament (EP) has demanded that the European Securities and Markets Authority (ESMA), the pan-European regulator, be given a greater role in determining the authorisation of central counterparties (CCPs) by member states, under the new European markets and infrastructure regulation (EMIR).
The proposal has delayed a trialogue meeting between the EP, the Council of the European Union and the European Commission (EC), scheduled for 23 January, to give the Council's Economic and Financial Affairs Committee (ECOFIN) a chance to discuss the issue at a meeting on 24 January.
EMIR will provide...