RUDN Journal of LawRUDN Journal of LawВестник Российского университета дружбы народов. Серия: Юридические науки2313-23372408-9001Peoples’ Friendship University of Russia named after Patrice Lumumba (RUDN University)5531ArticlesСтатьиResearch ArticleEU Over the counter regulatory reform after world financial crisisРеформа регулирования рынка внебиржевых деривативов в ЕС после мирового финансового кризисаOziumenkoM VОзюменкоМария ВладимировнаThe Department Financial and Administrative LawКафедра административного и финансового праваzium@yandex.ruPeoples’ Friendship University of RussiaРоссийский университет дружбы народов150120141NO1 (2014)№1 (2014)15916907092016Copyright ©; 2016, Legal ScienceCopyright ©; 2016, Юридические науки2016Legal ScienceЮридические наукиhttps://journals.rudn.ru/law/article/view/5531This article is about over the counter derivatives market regulatory reform in EU. It covers the derivatives market ongoing reform background and possible impact. As part of the extensive regulatory reform proposals, the new rules will warrant significant increase in the use of collateral across the financial system.В статье рассмотрены основные направления регулирования рынка внебиржевых деривативов в ЕС после мирового финансового кризиса, раскрыт перечень лиц и операций, в отношении которых применяются новые нормы. Также проанализированы предпосылки проводимых реформ, их значение и возможные последствия для функционирования рынка внебиржевых деривативов и деятельности надзорных органов в указанной сфере.regulatory reformover the counter derivatives marketcentral clearing counterpartytrade repositoryЕвропейский союзвнебиржевые деривативыцентральный клирингцентральный клиринговый контрагентклиринговое обязательствоторговые репозиторииЕвропейское агентство по ценным бумагам и финансовым рынкам1.Zhukov S.V. Regulirovanie rynka energeticheskikh derivativov: plany i realii // Den’gi I kredit: Bank Rossii. - 2011. - № 9. - С. 13-16.2.Banking reform: delivering stability and supporting a sustainable economy. 2012. URL: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/32556/whitepaper_banking_reform_140512.pdf.3.Duffie D. and Graduate H.Z. Does a Central Clearing Counterparty Reduce Counterparty Risk? - Stanford: School of Business Stanford University, 2010.4.FSB OTC Derivatives Market Reforms: Fourth Progress Report on Implementation, 31 October 2012 http://www.financialstabilityboard.org/publications/r_121031a.pdf.5.Giustiniani A. and Thornton Jh. Post-crisis financial reform: where do we stand? // Journal of financial regulation and compliance/emerald group publishing limited. - 2011. - Vol. 19. - Iss: 4. -P. 323-336.6.Grant «Splits grow over derivatives reform» // Financial times. - 2011. - April 18.7.Jackson J.K. and Miller R.S. Comparing G-20 Reform of the Over-the-Counter Derivatives Markets // Congressional Research Service. February 19, 2013. URL: http://www.fas.org/sgp/crs/misc/R42961.pdf.8.Karel J. and Rausser G. American and European Regulation of Over-the-Counter Derivative Securities // Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague. November 2011. - P. 1-12. URL: http://mpra.ub.uni-muenchen.de/35036/1/MPRA_paper_35036.pdf.9.Karel J. and Rausser G. Comparing american and european regulation of over-the- counter derivative securities // European financial and accounting journal. - 2011. - Vol. 6. - No 4. - P. 7-19.10.Körner U. Enhancing Financial Stability - A Glоbal Bank’s Perspective // Dombret, Aydreas and Otto Lucius. Stability of the Financial System: Illusion or Feasible Concept? - Cheltenham: Elgar Publishing Limited, 2013. - P. 407-424.11.Luettringhaus J.D. Regulating over-the-counter derivatives in the European Union - transatlantic (dis)harmony after EMIR and Dodd Frank: The impact on (re)insurance companies and occupational pension funds // The Columbia Journal of European Law. - 2012. - Vol. 18. URL: http://www.cjel.net/wp-content/uploads/2012/09/Luettringhaus_19-32.pdf.12.Non-cleared otc derivatives: their importance to the global economy // ISDA (The International Swaps and Derivatives Association). March 2013. URL: http://www2.isda.org/ news/isda-publishes-paper-examining-non-cleared-otc-derivatives-and-their-importance-to-the-global-economy.13.Peery G.F. The post-reform guide to derivatives and futures. new jersey: wiley finance, 2012.14.Pittsburgh Summit Leaders' Statement. September 24-25, 2009. URL: http://www.g20dwg.org/static/2009_g20_framework_for_strong_sustainable_and_balanced_growth.pdf.15.Regulation (EU) no 648/2012 of the European Parliament and of the Council of 4 july 2012 on otc derivatives, central counterparties and trade repositories // Official Journal of the European Union. l 201/1. 27.07.2012.16.Spain: oversight and supervision of financial market infrastructures technical note // International Monetary Fund Country Report No. 12/144. URL: http://www.imf.org/ external/pubs/ft/scr/2012/cr12144.pdf.