UK EMIR: Difference between revisions
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''Financial services - regulation - European Union (EU) - UK - retained EU law.'' | ''Financial services - regulation - derivatives - European Union (EU) - UK - retained EU law.'' | ||
EMIR is an abbreviation for the European Market Infrastructure Regulation. | |||
EMIR is designed to improve transparency and reduce risks associated with the derivatives market. | |||
It is UK domestic regulation and law comprising: | |||
UK EMIR is the derivatives market regime for the UK. | |||
It is overseen and enforced by the UK's Financial Conduct Authority. | |||
:<span style="color:#4B0082">'''''Reporting & risk mitigation for derivatives'''''</span> | |||
:"UK EMIR imposes requirements on all types and sizes of entities that enter into any form of derivative contract, including those not involved in financial services. | |||
:UK EMIR requires entities that enter into derivative contracts, including interest rate, foreign exchange, equity, credit, commodity and emission derivatives, to: | |||
:#Report details of derivative contracts to an FCA registered, or recognised, trade repository. | |||
:#Clear, via a central counterparty (CCP), those over-the-counter (OTC) derivatives subject to a mandatory clearing obligation. | |||
:#Implement risk mitigation techniques, including operational processes and margining, for bilateral OTC derivatives that are not cleared by a CCP." | |||
:''UK EMIR - Financial Conduct Authority'' | |||
UK EMIR is UK domestic regulation and law comprising: | |||
#The original EU-wide EMIR regime as it became retained EU law at the end of December 2020, together with | #The original EU-wide EMIR regime as it became retained EU law at the end of December 2020, together with | ||
#Subseqeuent amendments made from time to time in the UK. | #Subseqeuent amendments made from time to time in the UK. | ||
:<span style="color:#4B0082">'''''Onshoring EMIR to the UK'''''</span> | |||
:"The European Market Infrastructure Regulation (EMIR) has been onshored into UK legislation via a number of statutory instruments (SIs) and Binding Technical Standards (BTS). | |||
:A list of UK EMIR onshoring legislation can be found on the UK EMIR library page... | |||
:The onshored UK EMIR REFIT also brings into UK legislation amendments to UK EMIR that make the regime more proportionate for certain firms." | |||
:''UK EMIR - Financial Conduct Authority'' | |||
== See also == | == See also == | ||
* [[Binding Technical Standard]] | |||
* [[Brexit]] | |||
* [[Central counterparty]] | |||
* [[Derivative instrument]] | |||
* [[Equivalence]] | |||
* [[EMIR]] | * [[EMIR]] | ||
* [[European Union]] | * [[European Union]] | ||
* [[Financial Conduct Authority]] | |||
* [[FRANDT]] | |||
* [[Harmonisation]] | |||
* [[Infrastructure]] | * [[Infrastructure]] | ||
* [[Margining]] | |||
* [[Onshore]] | |||
* [[MiFID II]] | * [[MiFID II]] | ||
* [[NFC]] | * [[NFC]] | ||
* [[Over the counter]] | |||
* [[Retained EU law]] | * [[Retained EU law]] | ||
* [[Statutory instrument]] | |||
* [[Trade repository]] | * [[Trade repository]] | ||
* [[UK EMIR REFIT]] | |||
==External link== | |||
*[https://www.fca.org.uk/markets/uk-emir UK EMIR - Financial Conduct Authority] | |||
*[https://www.fca.org.uk/markets/uk-emir/library UK EMIR library - onshoring legislation - Financial Conduct Authority] | |||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
Latest revision as of 10:15, 1 July 2021
Financial services - regulation - derivatives - European Union (EU) - UK - retained EU law.
EMIR is an abbreviation for the European Market Infrastructure Regulation.
EMIR is designed to improve transparency and reduce risks associated with the derivatives market.
UK EMIR is the derivatives market regime for the UK.
It is overseen and enforced by the UK's Financial Conduct Authority.
- Reporting & risk mitigation for derivatives
- "UK EMIR imposes requirements on all types and sizes of entities that enter into any form of derivative contract, including those not involved in financial services.
- UK EMIR requires entities that enter into derivative contracts, including interest rate, foreign exchange, equity, credit, commodity and emission derivatives, to:
- Report details of derivative contracts to an FCA registered, or recognised, trade repository.
- Clear, via a central counterparty (CCP), those over-the-counter (OTC) derivatives subject to a mandatory clearing obligation.
- Implement risk mitigation techniques, including operational processes and margining, for bilateral OTC derivatives that are not cleared by a CCP."
- UK EMIR - Financial Conduct Authority
UK EMIR is UK domestic regulation and law comprising:
- The original EU-wide EMIR regime as it became retained EU law at the end of December 2020, together with
- Subseqeuent amendments made from time to time in the UK.
- Onshoring EMIR to the UK
- "The European Market Infrastructure Regulation (EMIR) has been onshored into UK legislation via a number of statutory instruments (SIs) and Binding Technical Standards (BTS).
- A list of UK EMIR onshoring legislation can be found on the UK EMIR library page...
- The onshored UK EMIR REFIT also brings into UK legislation amendments to UK EMIR that make the regime more proportionate for certain firms."
- UK EMIR - Financial Conduct Authority
See also
- Binding Technical Standard
- Brexit
- Central counterparty
- Derivative instrument
- Equivalence
- EMIR
- European Union
- Financial Conduct Authority
- FRANDT
- Harmonisation
- Infrastructure
- Margining
- Onshore
- MiFID II
- NFC
- Over the counter
- Retained EU law
- Statutory instrument
- Trade repository
- UK EMIR REFIT
