Esma backtracks on account segregation
Esma opts for minimum EU-wide account segregation requirements
The European Securities and Markets Authority (Esma) has backtracked on stricter rules for depositories that some critics had said would choke tri-party repo markets and prime brokerage.
As predicted in a Risk.net article last year, the European Securities and Markets Authority (Esma) has opted for minimum European Union-wide account segregation requirements under the Alternative Investment Fund Managers Directive (AIFMD) and Ucits V.
The move is opposed by France’s buy side in particular, but
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