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Amendments Published to Ensure EMIR REFIT is Fully Effective in the UK

Amendments Published to Ensure EMIR REFIT is Fully Effective in the UK
Friday, June 21, 2019

On June 18, 2019, the Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (Amendment) Regulations 2019 (the Regulations) were published on legislation.gov.uk with an explanatory memorandum.

The Regulations make amendments to UK legislation to ensure that the regulation amending the European Market Infrastructure Regulation (EMIR REFIT) is fully effective and enforceable in the United Kingdom. As explained in the explanatory memorandum, the changes introduced by the EMIR REFIT do not require a consultation because it is EU regulation that is directly applicable to the United Kingdom.

The Regulations are available here and their explanatory memorandum is available here.

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