United Kingdom (and EU regulation)

Commission adopts Delegated Regulations under EMIR to prepare for no-deal Brexit

On 28 Mach 2019, the European Commission adopted the following Delegated Regulations under EMIR in preparation for a no deal Brexit scenario:

Commission Delegated Regulation (EU) of 28.3.2019 amending Delegated Regulation (EU) 2016/2251 supplementing EMIR as regards the date until which counterparties may continue to apply their risk-management procedures for certain over-the-counter derivative contracts not cleared by a central counterparty; and
Commission Delegated Regulation (EU) of 28.3.2019 amending Delegated Regulation (EU) 2015/2205, Delegated Regulation (EU) 2016/592 and Delegated Regulation (EU) 2016/1178 supplementing EMIR as regards the date at which the clearing obligation takes effect for certain types of contracts.

The European Parliament and the Council of the EU will now consider the new Delegated Regulations.