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ARTICLE · 14 JUNE 2019

EMIR Refit To Enter Into Force On 17 June, 2019

Dillon Eustace
Dillon Eustace
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Dillon Eustace

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The EMIR Refit Regulation will enter into force on 17 June 2019 (that is, twenty days after its publication in the OJ).

European UnionFinance and Banking
Karen Jennings
Karen Jennings
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Regulation (EU) 2019/834 amending EMIR (the Regulation on OTC derivative transactions, central counterparties (CCPs) and trade repositories (648/2012)) (the "EMIR Refit Regulation") was published in the Official Journal of the EU ("OJ") on 28 May 2019.

Update

The EMIR Refit Regulation will enter into force on 17 June 2019 (that is, twenty days after its publication in the OJ). The majority of provisions within the EMIR Refit Regulation will enter into force on that day.

Clearing

As set out in our recent Dillon Eustace briefing paper entitled "Council of EU adopts the EMIR Refit Regulation" here, a number of the key changes introduced by the EMIR Refit Regulation relate to the clearing obligations for counterparties. In our previous briefing paper we highlighted certain actions which financial counterparties ("FCs") and non-financial counterparties ("NFCs") need to take on the day the EMIR Refit Regulation enters into force.

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