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ARTICLE · 23 DECEMBER 2024

EMIR 3.0 Comes Into Force On 24 December 2024

Arthur Cox
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Comprising a Regulation amending EMIR, and a Directive amending the UCITS Directive, the CRD IV Directive, and the Investment Firms Directive, EMIR 3.0 was published in the Official Journal on 4 December 2024.

European UnionFinance and Banking
Phil Cody
Phil Cody
Aiden Small
Aiden Small
Peter Murphy
Peter Murphy
Sarah Thompson
Sarah Thompson
Sinead Cantillon
Sinead Cantillon
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Comprising a Regulation amending EMIR, and a Directive amending the UCITS Directive, the CRD IV Directive, and the Investment Firms Directive, EMIR 3.0 was published in the Official Journal on 4 December 2024.

Member States must transpose the Directive by 25 June 2026.

The Regulation will apply directly in Member States from 24 December 2024, save for certain provisions that depend on certain regulatory technical standards (RTS) being finalised.

Several concerns expressed by industry associations in September 2024, when they called on the European Commission / European Supervisory Authorities to clarify that market participants shouldn't be required to comply with the Level 1 text before the Level 2 RTS apply, haven't yet been addressed by way of clarification from those authorities.

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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