UK:
UK Regulations Made To Delay Recovery Plan Obligation For Overseas Clearing Houses
15 April 2014
Shearman & Sterling LLP
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On 4 April 2014, UK amending regulations were published which
exempt recognized overseas clearing houses from the requirement to
produce and maintain recovery plans while their application for
recognition as a CCP under EMIR is being considered. The
Regulations come into effect on 1 May 2014. UK-incorporated
recognized clearing houses will be required to have and maintain
recovery plans from 1 May 2014 regardless of their application for
recognition under EMIR.
The Regulations are available at: http://www.legislation.gov.uk/uksi/2014/905/pdfs/uksi_20140905_en.pdf.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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