AMF clarifies EMIR 3 notification provisions as new rules come into force
23 December 2024 France
Image: Tierney/stock.adobe.com
The Autorité des marchés financiers (AMF) has provided clarity for new European Market Infrastructure Regulation (EMIR) 3 rules which are set to come into force on 24 December.
The AMF has issued a statement to specify the notification procedures related to the obligation to hold an active account in accordance with Article 7a(1) of EMIR.
The firm states, that where a French financial counterparty (FC) or non-financial counterparty (NFC) becomes subject to the obligation to hold an active account in accordance with Article 7a(1) of EMIR, this FC or NFC shall inform the AMF and the European Securities and Markets Authority (ESMA) in parallel, according to the procedures specified in the "My relations with the AMF" section for professionals, under "Make my reporting, notifications and disclosure" in the subsection "Notifications under EMIR".
In order to notify the AMF when counterparties are subject to the active account obligation under Article 7a(1), FCs and NFCs must use the notification template provided by ESMA.
The AMF has issued a statement to specify the notification procedures related to the obligation to hold an active account in accordance with Article 7a(1) of EMIR.
The firm states, that where a French financial counterparty (FC) or non-financial counterparty (NFC) becomes subject to the obligation to hold an active account in accordance with Article 7a(1) of EMIR, this FC or NFC shall inform the AMF and the European Securities and Markets Authority (ESMA) in parallel, according to the procedures specified in the "My relations with the AMF" section for professionals, under "Make my reporting, notifications and disclosure" in the subsection "Notifications under EMIR".
In order to notify the AMF when counterparties are subject to the active account obligation under Article 7a(1), FCs and NFCs must use the notification template provided by ESMA.
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