The appointment is effective from 1 January 2020, when the CCP Supervisory Committee’s work is expected to begin, with the Acting Chair responsible for ensuring the set-up and functioning of the Committee, pending the appointment of a full-time Committee Chair.
CCP Supervisory Committee
The CCP Supervisory Committee is being established as part of the reform of the current regime for the authorisation, recognition and supervision of CCPs under the European Markets Infrastructure Regulation (EMIR 2.2).
It will carry out the tasks assigned to ESMA in relation to both EU and third country CCPs and will be composed of a Chair and two Independent Members, as well as national competent authorities responsible for supervision of CCPs and central banks of issue of European Union currencies. The committee will be responsible for preparing draft opinions or decisions in relation to EU and third country CCPs for adoption by the Board of Supervisors.
EMIR 2.2 strengthens ESMA’s role regarding the authorisation and supervision of EU CCPs, promoting supervisory convergence among the activities of national competent authorities, and to the recognition of TC-CCPs, entrusting ESMA with direct supervision of systemically important third country CCPs.
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