ASIC and RBA Update MoU Signed with ESMA

The Australian Securities and Investments Commission (ASIC) and the Reserve Bank of

Australia (RBA) have updated the Memorandum of Understanding (MoU) with the European

Securities and Markets Authority (ESMA) to reflect key amendments to the European Market

Infrastructure Regulation (EMIR) 2.2 relating to central counterparties (CCPs).

The MoU establishes regulatory and supervisory cooperation arrangements between ASIC,

ESMA and the RBA with respect to Australian CCPs that are recognised or seeking recognition

in the EU (covered CCPs). Under the MoU, signatories agree to provide the fullest cooperation

permissible under their laws and regulations in relation to all relevant information and

supervisory activities regarding the covered CCPs.

The parties express their willingness to work together to fulfill their respective regulatory

mandates, particularly in the areas of investor protection, fostering market and financial

integrity, and maintaining confidence and systemic stability.

The updated MoU comes into effect from 9 February 2022.