Impact of Brexit: EMIR—quick guide
Impact of Brexit: EMIR—quick guide

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

  • Impact of Brexit: EMIR—quick guide
  • UK preparations for Brexit
  • EMIR
  • Legislation amended by the Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc, and Transitional Provision) (EU Exit) Regulations 2019
  • Key changes introduced by the Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc, and Transitional Provision) (EU Exit) Regulations 2019
  • Legislation amended by the Central Counterparties (Amendment, etc, and Transitional Provision) (EU Exit) Regulations 2018
  • Key changes introduced by the Central Counterparties (Amendment, etc, and Transitional Provision) (EU Exit) Regulations 2018
  • Legislation amended by the Trade Repositories (Amendment and Transitional Provision) (EU Exit) Regulations 2018
  • Key changes introduced by the Trade Repositories (Amendment and Transitional Provision) (EU Exit) Regulations 2018
  • Legislation amended by the Investment Exchanges, Clearing Houses and Central Securities Depositories (Amendment) (EU Exit) Regulations 2019
  • more

This quick guide details current UK legislation and retained EU legislation that will be amended and/or revoked by:

  1. the Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc, and Transitional Provision) (EU Exit) Regulations 2019 SI 2019/335 (the OTC SI)

  2. the Central Counterparties (Amendment, etc, and Transitional Provision) (EU Exit) Regulations 2018 SI 2018/1184 (the CCP SI)

  3. the Trade Repositories (Amendment and Transitional Provision) (EU Exit) Regulations 2018 SI 2018/1318 (the TR SI)

  4. the Investment Exchanges, Clearing Houses and Central Securities Depositories (Amendment) (EU Exit) Regulations 2019 SI 2019/662 (the IE SI), and

  5. the Equivalence Determinations for Financial Services and Miscellaneous Provisions (Amendment etc) (EU Exit) Regulations 2019, SI 2019/541 (the Equivalence SI and, together with the OTC SI, the CCP SI, the TR SI and the IE SI, the EMIR SIs)

The OTC SI is amended by the Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc, and Transitional Provision) (EU Exit) (No. 2) Regulations 2019, SI 2019/1416.

The CCP SI is amended by:

  1. the Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019, SI 2019/405

  2. the Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019, SI 2019/680, and

  3. the Financial Services (Miscellaneous Amendment) (EU Exit) Regulations 2019, SI 2019/710

A further amendment to the CCP SI is set out in the Financial Services (Miscellaneous Amendments) (EU Exit)