The Dutch clearing broker has said it will support clients with their European clearing obligations
ABN Amro, the largest Dutch clearing broker, has performed a
U-turn over its clients’ obligations to report
derivatives after initially telling customers they did not have
to report under European rules that took effect this month,
writes Luke Jeffs.
ABN Amro told clients last month they did not have to report
under the new European rules, citing a decision by the Dutch
regulator based on the Dutch legal concept of lastgeving.
But Jan-Bart de Boer, chief commercial officer, ABN AMRO
Clearing Bank NV, told FOW on Thursday: "After further
discussions with our local regulators the Authoriteit
Financiële Markten and De Nederlandsche Bank, ABN Amro
Clearing Bank NV will support clients to conform with the new
European Securities and Markets Authority guidelines and the
reporting requirements of their local regulators."
This article is available exclusively to subscribers
Please log in to continue reading.
Not yet a subscriber?
Click here to take a free trial.
Already have an account? |
Please fill in your details below and a customer service representative will contact you.