EMIR: ESMA writes to EU Commission on sanctioning powers

ESMA has written to the EU Commission to request that it consider issues related to ESMA's supervisory and sanctioning powers under EMIR in the context of the current EMIR review. The letter also emphasises similar aspects related to credit rating agencies that ESMA believes would benefit from a joint analysis.

ESMA recommends that amendments be made to EMIR and the CRA Regulation and proposes that the Commission considers further harmonisation of the supervisory and enforcement frameworks applicable to trade repositories and CRAs.