Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 Ju... (32012R0648)
Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories Text with EEA relevance
- REGULATION (EU) No 648/2012 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL
- of 4 July 2012
- on OTC derivatives, central counterparties and trade repositories
- (Text with EEA relevance)
- TITLE I
- SUBJECT MATTER, SCOPE AND DEFINITIONS
- Article 1
- Subject matter and scope
- Article 2
- Definitions
- Article 3
- Intragroup transactions
- TITLE II
- CLEARING, REPORTING AND RISK MITIGATION OF OTC DERIVATIVES
- Article 4
- Clearing obligation
- Article 5
- Clearing obligation procedure
- Article 6
- Public register
- Article 7
- Access to a CCP
- Article 8
- Access to a trading venue
- Article 9
- Reporting obligation
- Article 10
- Non-financial counterparties
- Article 11
- Risk-mitigation techniques for OTC derivative contracts not cleared by a CCP
- Article 12
- Penalties
- Article 13
- Mechanism to avoid duplicative or conflicting rules
- TITLE III
- AUTHORISATION AND SUPERVISION OF CCPs
- CHAPTER 1
- Conditions and procedures for the authorisation of a CCP
- Article 14
- Authorisation of a CCP
- Article 15
- Extension of activities and services
- Article 16
- Capital requirements
- Article 17
- Procedure for granting and refusing authorisation
- Article 18
- College
- Article 19
- Opinion of the college
- Article 20
- Withdrawal of authorisation
- Article 21
- Review and evaluation
- CHAPTER 2
- Supervision and oversight of CCPs
- Article 22
- Competent authority
- CHAPTER 3
- Cooperation
- Article 23
- Cooperation between authorities
- Article 24
- Emergency situations
- CHAPTER 4
- Relations with third countries
- Article 25
- Recognition of a third-country CCP
- TITLE IV
- REQUIREMENTS FOR CCPs
- CHAPTER 1
- Organisational requirements
- Article 26
- General provisions
- Article 27
- Senior management and the board
- Article 28
- Risk committee
- Article 29
- Record keeping
- Article 30
- Shareholders and members with qualifying holdings
- Article 31
- Information to competent authorities
- Article 32
- Assessment
- Article 33
- Conflicts of interest
- Article 34
- Business continuity
- Article 35
- Outsourcing
- CHAPTER 2
- Conduct of business rules
- Article 36
- General provisions
- Article 37
- Participation requirements
- Article 38
- Transparency
- Article 39
- Segregation and portability
- CHAPTER 3
- Prudential requirements
- Article 40
- Exposure management
- Article 41
- Margin requirements
- Article 42
- Default fund
- Article 43
- Other financial resources
- Article 44
- Liquidity risk controls
- Article 45
- Default waterfall
- Article 46
- Collateral requirements
- Article 47
- Investment policy
- Article 48
- Default procedures
- Article 49
- Review of models, stress testing and back testing
- Article 50
- Settlement
- TITLE V
- INTEROPERABILITY ARRANGEMENTS
- Article 51
- Interoperability arrangements
- Article 52
- Risk management
- Article 53
- Provision of margins among CCPs
- Article 54
- Approval of interoperability arrangements
- TITLE VI
- REGISTRATION AND SUPERVISION OF TRADE REPOSITORIES
- CHAPTER 1
- Conditions and procedures for registration of a trade repository
- Article 55
- Registration of a trade repository
- Article 56
- Application for registration
- Article 57
- Notification of and consultation with competent authorities prior to registration
- Article 58
- Examination of the application
- Article 59
- Notification of ESMA decisions relating to registration
- Article 60
- Exercise of the powers referred to in Articles 61 to 63
- Article 61
- Request for information
- Article 62
- General investigations
- Article 63
- On-site inspections
- Article 64
- Procedural rules for taking supervisory measures and imposing fines
- Article 65
- Fines
- Article 66
- Periodic penalty payments
- Article 67
- Hearing of the persons concerned
- Article 68
- Disclosure, nature, enforcement and allocation of fines and periodic penalty payments
- Article 69
- Review by the Court of Justice
- Article 70
- Amendments to Annex II
- Article 71
- Withdrawal of registration
- Article 72
- Supervisory fees
- Article 73
- Supervisory measures by ESMA
- Article 74
- Delegation of tasks by ESMA to competent authorities
- CHAPTER 2
- Relations with third countries
- Article 75
- Equivalence and international agreements
- Article 76
- Cooperation arrangements
- Article 77
- Recognition of trade repositories
- TITLE VII
- REQUIREMENTS FOR TRADE REPOSITORIES
- Article 78
- General requirements
- Article 79
- Operational reliability
- Article 80
- Safeguarding and recording
- Article 81
- Transparency and data availability
- Article 82
- Exercise of the delegation
- TITLE VIII
- COMMON PROVISIONS
- Article 83
- Professional secrecy
- Article 84
- Exchange of information
- TITLE IX
- TRANSITIONAL AND FINAL PROVISIONS
- Article 85
- Reports and review
- Article 86
- Committee procedure
- Article 87
- Amendment to Directive 98/26/EC
- Article 88
- Websites
- Article 89
- Transitional provisions
- Article 90
- Staff and resources of ESMA
- Article 91
- Entry into force
- ANNEX I
- List of infringements referred to in Article 65(1)
- ANNEX II
- List of the coefficients linked to aggravating and mitigating factors for the application of Article 65(3)
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