EMIR REFIT and EMIR 2.2 roadmap
EMIR REFIT and EMIR 2.2 roadmap

The following Financial Services practice note provides comprehensive and up to date legal information covering:

  • EMIR REFIT and EMIR 2.2 roadmap
  • EMIR REFIT
  • EMIR 2.2

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime.

EMIR REFIT (Regulation (EU) 2019/834 amending Regulation (EU) 648/2012 (EMIR)) as regards the clearing obligation, the suspension of the clearing obligation, the reporting requirements, the risk-mitigation techniques for over the counter (OTC) derivative contracts not cleared by a central counterparty (CCP), the registration and supervision of trade repositories (TRs) and the requirements for TRs was published in the Official Journal of the EU on 28 May 2019 and has effect from 17 June 2019.

EMIR 2.2 (Regulation (EU) 2019/2099 amending EMIR as regards the procedures and authorities involved for the authorisation of CCPs and requirements for the recognition of third-country CCPs) was published in the Official Journal of the EU on 12 December 2019 and has effect from 1 January 2020.

This Practice Note summaries the changes made to EMIR by EMIR REFIT and EMIR 2.2.

EMIR REFIT

The table below summarises the main changes made to EMIR by EMIR REFIT.

EMIR REFIT applies from 17 June

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