European Parliament adopts EMIR

29 March 2012

Commissioner Barnier stressed that this vote is a key step in the EU effort to establish a safer and sounder regulatory framework for European financial markets.

Barnier also stressed that: "With this new regulation, we are taking a big step towards financial stability. We are reducing the risk of a future financial crisis, with all its consequences on the real economy, growth, jobs and public budgets. The EU has now also fulfilled its G20 commitments in this field, and on time. I call on all other jurisdictions around the globe, which have not yet done so, to take the appropriate steps to meet our shared G20 commitments.

I also call on the co-legislators to now focus on complementary European rules that we need to agree on quickly to continue strengthening financial markets; in particular a swift revision of rules on markets in financial instruments".

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