The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (No. 2) Regulations 2013 were laid before Parliament on 31 July: see here or here (pdf). An explanatory memorandum is available here (pdf). The Regulations concern the clearing of financial transactions through recognised clearing houses and make amendments to insolvency law to facilitate the segregation and transfer of indirect clients’ assets and positions. Changes are also made to the supervisory, investigatory and enforcement powers of the Bank of England and Financial Conduct Authority. These changes are necessitated by the EMIR Regulation (EU 648/2012) and Commission Delegated Regulation (EU) No 149/2013.
Monday, 5 August 2013
UK: The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (No. 2) Regulations 2013
The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (No. 2) Regulations 2013 were laid before Parliament on 31 July: see here or here (pdf). An explanatory memorandum is available here (pdf). The Regulations concern the clearing of financial transactions through recognised clearing houses and make amendments to insolvency law to facilitate the segregation and transfer of indirect clients’ assets and positions. Changes are also made to the supervisory, investigatory and enforcement powers of the Bank of England and Financial Conduct Authority. These changes are necessitated by the EMIR Regulation (EU 648/2012) and Commission Delegated Regulation (EU) No 149/2013.
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