European Parliament decision to raise no objections to the Commission delegated regulation of 19 December 2018 amending Delegated Regulation (EU) 2015/2205, Delegated Regulation (EU) 2016/592 and Delegated Regulation (EU) 2016/1178 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on the clearing obligation to extend the dates of deferred application of the clearing obligation for certain OTC derivative contracts (C(2018)09047 — 2018/2998(DEA))
Date: 2019-02-13
Institutions: Committee on Economic and Monetary Affairs, European Parliament
Subjects: administrative check, contract, financial instrument, financial legislation, financial transaction, securities, technical standard








C_2020449EN.01053101.xml










23.12.2020   


EN


Official Journal of the European Union


C 449/531






P8_TA(2019)0100
Non-objection to a delegated act: regulatory technical standards on the clearing obligation to extend the dates of deferred application of the clearing obligation for certain OTC derivative contracts
European Parliament decision to raise no objections to the Commission delegated regulation of 19 December 2018 amending Delegated Regulation (EU) 2015/2205, Delegated Regulation (EU) 2016/592 and Delegated Regulation (EU) 2016/1178 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on the clearing obligation to extend the dates of deferred application of the clearing obligation for certain OTC derivative contracts (C(2018)09047 — 2018/2998(DEA))
(2020/C 449/53)

The European Parliament,






—


having regard to the Commission delegated regulation (C(2018)09047),










—


having regard to the Commission’s letter of 19 December 2018 asking Parliament to declare that it will raise no objections to the delegated regulation,










—


having regard to the letter from the Committee on Economic and Monetary Affairs to the Chair of the Conference of Committee Chairs of 4 February 2019,










—


having regard to Article 290 of the Treaty on the Functioning of the European Union,










—


having regard to 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 (1), and in particular Articles 5(2) and 82(6) thereof,










—


having regard to Article 13 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (2),










—


having regard to the draft regulatory technical standards (RTS) entitled ‘Clearing Obligation under EMIR (no. 6)’, submitted by the European Supervisory Authorities on 27 September 2018 pursuant to Article 5(2) of Regulation (EU) No 648/2012,










—


having regard to the recommendation for a decision of the Committee on Economic and Monetary Affairs,










—


having regard to Rule 105(6) of its Rules of Procedure,










A.


whereas the delegated act contains important details related to exemption from the clearing obligation for intragroup transactions with third-country group entities, where no equivalence decision under Article 13(2) of Regulation (EU) No 648/2012 has been adopted for the third country in which that group entity is established;










B.


whereas Parliament recognises the importance of the swift adoption of this act, since the Commission has not yet adopted such equivalence decisions and the first deferred date of application of the clearing obligation was 21 December 2018, but also believes that the Commission unnecessarily delayed the adoption of this act until 19 December 2018, while the European Securities and Markets Authority (ESMA) published its draft RTS as early as 27 September 2018;










C.


whereas Parliament considers that the RTS adopted are not ‘the same’ as the draft RTS submitted by the European Supervisory Authorities (ESAs) owing to the Commission’s changes that were introduced in this draft, and considers that it has three months (‘the scrutiny period’) to object to the RTS; whereas Parliament urges the Commission to indicate the one-month scrutiny period only in cases where the Commission has adopted the ESAs’ drafts without changes, i.e. where the draft and the adopted RTS are ‘the same’;












1.


Declares that it has no objections to the delegated regulation;












2.


Instructs its President to forward this decision to the Council and the Commission.






(1)  OJ L 201, 27.7.2012, p. 1.

(2)  OJ L 331, 15.12.2010, p. 84.