Impact of Brexit: EMIR—quick guide

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

  • Impact of Brexit: EMIR—quick guide
  • Overview of onshored and preserved EU-derived law post-IP completion day
  • 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
  • Equivalence
  • Continuation of EMIR requirements and transfer of regulatory functions
  • Temporary exemptions
  • EMIR processes
  • Binding Technical Standards
  • More...

Impact of Brexit: EMIR—quick guide

This quick guide details current UK legislation and retained EU legislation that has been 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: .

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

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

  3. the Financial Services (Electronic Money, Payment Services and Miscellaneous Amendments) (EU Exit) Regulations 2019, SI 2019/1212,

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

  5. the Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2020,

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