According to a letter from the Commission dated 27 February, ESMA will now deliver its advice on Japan and the USA by 15 June 2013 and, for the remaining countries specified in the request by 15 July 2013. The original deadline was 15 March 2013.
In view of ongoing international discussions, efforts by regulators in third countries towards finalising legislation and, notably, the recent commitment in the OTC derivatives Regulators Group to consider the stage and the form of implementation of OTC reforms in different jurisdictions, the Commission considers that the deadlines for the submission of the technical advice should be reviewed in order to allow ESMA to take account of these ongoing developments and to consider their implications fully.
Press release
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