European and Canadian securities regulators have signed co-operation agreements that aim to facilitate their oversight of central counterparties (CCPs).
The European Securities and Markets Authority (ESMA) on Thursday announced it has signed two separate memoranda of understanding (MoUs) with Canadian regulators — one with Alberta, and a second deal that includes regulators in Ontario, Quebec, and Manitoba — which establish co-operation arrangements between the regulators in overseeing CCPs.
The MoUs set out the terms of co-operation, including the exchange of information between the regulators that are overseeing CCPs in their respective jurisdictions. The agreements are effective as of Nov. 30, 2015, except for the deal with the Ontario Securities Commission (OSC), which requires ministerial approval.
A similar deal with Swiss regulators was also announced on Thursday.
These agreements were all made under regulations that provide for co-operation arrangements between ESMA and regulators in other jurisdictions whose legal and supervisory framework for CCPs have been deemed equivalent to the European regime, ESMA says in a statement.