ESMA consults on possible changes to annual fees for Tier 1 Third country central counterparties

Summary:

The European Securities and Markets Authority (ESMA) has launched a public consultation to revise the Delegated Regulation on fees charged to Tier 1 third-country central counterparties (CCPs) under the European Market Infrastructure Regulation (EMIR). The consultation aims to gather stakeholders' views on three proposals: allocating annual fees based on global turnover, introducing a basic minimum fee of EUR 50,000 and a maximum fee of EUR 250,000, and introducing an incentive scheme for failing to submit annual audited turnover figures. The proposals aim to ensure that fees are more proportionate and accurately reflect the differences in size and activity across Tier 1 TC-CCPs. The public consultation is open until 10 November 2023, and responses should be submitted using the form available on ESMA's website.