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European Union › Derivatives › United Kingdom

The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of... more +
The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -
Jones Day

FCA Consulting on Proposed Changes to the Derivatives Trading Obligation

Jones Day on

The Background: In 2021, the Financial Conduct Authority ("FCA") and HM Treasury began consulting on the Wholesale Markets Review (the "Review"), a broad review of the structure, functioning, and regulation of secondary...more

A&O Shearman

UK Updates and Expands Equivalence for US Derivatives Trading Venues

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The Markets in Financial Instruments (Equivalence) (United States of America) (Commodity Futures Trading Commission) Regulations 2024 (SI 2024/638) were made on May 14, 2024 and entered into force on June 4, 2024. In...more

Skadden, Arps, Slate, Meagher & Flom LLP

Taking Stock of Commodity Derivatives Regulation in the UK and EU

Skadden, Arps, Slate, Meagher & Flom LLP on

In July 2021, HM Treasury published the Wholesale Markets Review consultation (WMR), which included proposals to reform the U.K.’s secondary markets framework. There was broad support for reforms to (a) modify the ancillary...more

Proskauer Rose LLP

Regulation Round Up - December 2023

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Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. Key developments in December 2023: 21 December - UK / Swiss Regulatory...more

Dechert LLP

EMIR REFIT Reporting: The Clock is Ticking – Are You Ready?

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Time to go-live is short – Monday 29 April 2024 for EU EMIR, and Monday 30 September 2024 for UK EMIR. All in-scope derivatives users will be affected by the changes....more

A&O Shearman

HM Treasury Seeks Views on Clearing Exemption for Pension Schemes

A&O Shearman on

U.K. EMIR (the onshored European Market Infrastructure Regulation) generally requires the clearing at a central counterparty of all interest rate swaps and credit default swaps. As announced earlier this year, HM Treasury has...more

A&O Shearman

Pensions: what's new this week - 20 November 2023

A&O Shearman on

Welcome to your weekly update from the Allen & Overy Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. This week we cover the following topics: Call for evidence...more

A&O Shearman

LIBOR Transition: Further Proposed Changes to EU Clearing and Derivatives Trading Obligations

A&O Shearman on

The European Securities and Markets Authority has opened a consultation on proposals to amend the EU clearing and trading derivative obligations to reflect recent benchmark transitions from LIBOR to so-called risk-free rates....more

A&O Shearman

European Securities and Markets Authority Publishes Regulatory Technical Standards on Revised Commodity Derivative Clearing...

A&O Shearman on

The European Securities and Markets Authority has published a final report and Regulatory Technical Standards on its proposed increase to the commodity derivative clearing threshold under the European Market Infrastructure...more

Latham & Watkins LLP

US vs EU/UK Margin Rules Comparative Summary

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This updated guide lays out the margin requirements for uncleared derivative transactions in a user-friendly comparative table. ...more

A&O Shearman

EU Grants Further Time-Limited Equivalence for UK CCPs

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An EU Commission Implementing Decision extending the equivalence of U.K. CCPs to June 2025 has been published in the Official Journal of the European Union. The equivalence decision applies to U.K. CCPs already established...more

A&O Shearman

UK Financial Conduct Authority Confirms Approach to Supervision of Commodity Derivatives Position Limits Regime

A&O Shearman on

The U.K. Financial Conduct Authority has published a statement confirming its approach to supervising commodity derivatives position limits. The statement follows the FCA's Supervisory Statement on the operation of the...more

A&O Shearman

European Commissioner Announces Proposed Extension of Equivalence for UK CCPs

A&O Shearman on

European Commissioner McGuinness has announced that in early 2022 the European Commission will be proposing an extension of the time-limited equivalence granted to U.K. CCPs...more

Latham & Watkins LLP

HM Treasury Consults on UK Wholesale Markets Reform

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Proposals signal that the UK government is willing to diverge significantly from EU rules. On 1 July 2021, HM Treasury published a consultation on its Wholesale Markets Review....more

Hogan Lovells

Brexit and derivatives transactions – some practical perspectives

Hogan Lovells on

EU and UK derivatives counterparties are now having to grapple with different sets of rules in the EU and the UK when trading derivatives with each other, following the end of the Brexit transition period on 31 December 2020....more

Cadwalader, Wickersham & Taft LLP

Unwelcome Intrusion: Reckoning with the Impact of Economic Sanctions on Derivatives Transactions

Cadwalader, Wickersham & Taft LLP on

I. A Growing Risk - The United States, along with the United Kingdom and European Union, has increasingly wielded economic sanctions against major commercial actors and financial transactions, sometimes roiling global...more

A&O Shearman

European Commission Decision Temporarily Establishes UK CCP Equivalence

A&O Shearman on

The European Commission has published a Decision temporarily determining that U.K. central counterparties will be deemed equivalent to EU standards under the European Market Infrastructure Regulation. The Decision will apply...more

A&O Shearman

UK Legislation Made to Onshore EMIR 2.2

A&O Shearman on

The U.K. has published Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2020 to onshore the new EU regime for third-country CCPs...more

WilmerHale

State of the Markets – Speech by Mark Steward

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On 6 February 2020, Mark Steward, Executive Director of Enforcement and Market Oversight at the Financial Conduct Authority (“FCA”), spoke at the 19th Annual Institute on Securities Regulation in Europe. His speech,...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest, Featuring Articles on Global AML Warnings and Guidance, US Agencies Join the GFIN

Katten Muchin Rosenman LLP on

FINANCIAL MARKETS - FATF Updates List of AML/CFT Deficient Jurisdictions - On October 18, the Financial Action Task Force (FATF) published its updated list of jurisdictions that have strategic anti-money laundering...more

Latham & Watkins LLP

Latest UK Developments on the Regulation of Cryptoassets

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FCA finalises guidance on cryptoassets and consults on product intervention measures. FCA guidance on the regulation of cryptoassets - As previously reported in this blog, the FCA consulted on guidance on cryptoassets...more

Katten Muchin Rosenman LLP

Corporate and Financial Weekly Digest, Featuring Articles on the Latest CFTC Proposals for Swap Margins, Non-US Clearing...

Katten Muchin Rosenman LLP on

BROKER-DEALER - CBOE Proposes Amendments to Rule 6.49A Concerning Off-Floor Position Transfers Including RWA Transfers - CBOE Exchange, Inc. (CBOE) recently filed a proposal to amend its Rule 6.49A to amend provisions...more

Latham & Watkins LLP

10 Key Regulatory Focus Areas for UK/European Wholesale Markets in 2019 – Progress Report

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These topics are attracting particular attention because they are either at a key stage in the regulatory change or implementation cycle, or because uncertainty and inconsistency in their recent implementation means that they...more

White & Case LLP

Financial Regulatory Observer – June 2019: No-deal Brexit: Challenges for trading venues and their participants

White & Case LLP on

There is no silver bullet for maintaining cross-border trading if the UK leaves the EU without a deal. The date of Brexit has been delayed until (at least) October 31, 2019, but there is little sign that financial...more

Dechert LLP

EMIR ALERT: EMIR REFIT – 19 days to go…

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On Tuesday 28 May 2019, the EMIR Refit Regulation (the "EMIR Refit") was published in the Official Journal. Relevant entities now have only 19 days to prepare for some of the key changes, ahead of the go live date of Monday...more

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