On 5 June 2025, the EACB co-signed a joint letter together with EFAMA, FIA, and ISDA, calling on ESMA to issue an opinion or no-action letter regarding the upcoming implementation of the Active Account Requirements (AAR) under EMIR 3.0.
The letter highlights industry concerns over the lack of final Level 2 technical standards ahead of the 24 June application date, which creates legal and operational uncertainty for EU market participants. The signatories request that national authorities refrain from supervisory or enforcement action until the relevant rules are formally adopted and published.
For more info, please download the full joint letter.