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ARTICLE · 19 APRIL 2024

EMIR REFIT - Impact On Irish Investment Funds

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The EMIR framework is about to be updated again as new material reporting requirements come into effect from 29 April 2024

IrelandFinance and Banking
Stephen Carty
Stephen Carty
Lorna Smith
Lorna Smith
Philip Keegan
Philip Keegan
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What You Need to Know

  • The EMIR framework is about to be updated again as new material reporting requirements come into effect from 29 April 2024.
  • It is crucial for stakeholders in the Irish investment funds sector to understand the changes and prepare for their impact.

Background

The Regulation on over the counter ("OTC") derivative transactions, central counterparties and trade repositories ("TRs") (EU) 648/2012 ("EMIR") is relevant to all Irish funds trading in financial derivative instruments whether on an exchange or otherwise.

Regulation (EU) 2019/834 ("EMIR REFIT") modified EMIR to simplify some of the requirements and make them more proportionate. Most of it came into force on 17 June 2019.

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