On 7 February 2018, the European Securities and Markets Authority (ESMA) issued final guidelines on the management of conflict of interests for central counterparties (CCPs).

Under the European Market Infrastructure Regulation (EMIR) CCPs have to put in place organisational arrangements and policies to prevent potential conflicts of interest and to solve them if the preventive measures are not sufficient. The final guidelines were developed following a public consultation in June 2017.

Next steps

The guidelines will be translated into the official languages of the EU and published on the ESMA website. Within two months of the publication of the translations, each national Competent Authority (NCA) will have to confirm whether or not it intends to comply with the guidelines.