Regulation 648/2012/EU - UK EMIR Regulation (Assimilated Law)

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Version status: In force | Document consolidation status: Assimilated law updated to reflect all known changes

Published date: Pre-IP completion day

Consolidation Status: Assimilated law updated to reflect all known changes

To be revoked by s. 1 and Sch. 1 Pt 1 to the Financial Services and Markets Act 2023 (c. 29) (FSMA 2023), Sch. 1 Pt 1 not yet fully commenced.

Comparing proposed amendment...


	Recitals
	Title I Subject Matter, Scope and Definitions (arts. 1-3)
In force	Article 1 Subject matter and scope
In force	Article 2 Definitions
In force	Article 2a Equivalence decisions for the purposes of the definition of OTC derivatives
In force	Article 3 Intragroup transactions
	Title II Clearing, Reporting and Risk Mitigation of OTC Derivatives (arts. 4-13a)
In force	Article 4 Clearing obligation
In force	Article 4a Financial counterparties that are subject to the clearing obligation
In force	Article 5 Clearing obligation procedure
In force	Article 6 Public register
In force	Article 6a Suspension of the clearing obligation
In force	Article 6b Risk reduction services
In force	Article 7 Access to a CCP
In force	Article 8 Access to a trading venue
In force	Article 9 Reporting obligation
In force	Article 10 Non-financial counterparties
In force	Article 11 Risk-mitigation techniques for OTC derivative contracts not cleared by a CCP
In force	Article 12 Penalties
In force	Article 13 Mechanism to avoid duplicative or conflicting rules
In force	Article 13a Conditions for making technical standards
	Title III Authorisation and Supervision of CCPs (arts. 14-25q)
	Chapter 1 Conditions and procedures for the authorisation of a CCP (arts. 14-21)
In force	Article 14 Authorisation of a CCP
In force	Article 15 Extension of activities and services
In force	Article 16 Capital requirements
In force	Article 17 Procedure for granting and refusing authorisation
Omitted	Article 18 College
Omitted	Article 19 Opinion of the college
In force	Article 20 Withdrawal of authorisation
In force	Article 21 Review and evaluation
	Chapter 2 Supervision and oversight of CCPs (art. 22)
In force	Article 22 Competent authority
	Chapter 3 Cooperation (arts. 23-24)
Omitted	Article 23 Cooperation between authorities
Omitted	Article 23a Supervisory cooperation between competent authorities and ESMA with regards to authorised CCPs
Omitted	Article 24 Emergency situations
	Chapter 3A CCP Supervisory Committee (arts. 24a-24e)
Omitted	Article 24a CCP Supervisory Committee
Omitted	Article 24b Consultation of central banks of issue
Omitted	Article 24c Decision making within the CCP Supervisory Committee
Omitted	Article 24d Decision making within the Board of Supervisors
Omitted	Article 24e Accountability
	Chapter 4 Relations with third countries (arts. 25-25q)
In force	Article 25 Recognition of a third-country CCP
In force	Article 25a Comparable compliance
In force	Article 25b Ongoing compliance with the conditions for recognition
Omitted	Article 25c Third-country CCP college
Omitted	Article 25d Fees
Omitted	Article 25e Exercise of the powers referred to in Articles 25f to 25h
Omitted	Article 25f Request for information
Omitted	Article 25g General investigations
Omitted	Article 25h On-site inspections
Omitted	Article 25i Procedural rules for taking supervisory measures and imposing fines
Omitted	Article 25j Fines
Omitted	Article 25k Periodic penalty payments
Omitted	Article 25l Hearing of the persons concerned
Omitted	Article 25m Disclosure, nature, enforcement and allocation of fines and periodic penalty payments
Omitted	Article 25n Review by the Court of Justice
Omitted	Article 25o Amendments to Annex IV
In force	Article 25p Withdrawal of recognition
Omitted	Article 25q Supervisory measures by ESMA
	Title IV Requirements for CCPs (arts. 26-50d)
	Chapter 1 Organisational requirements (arts. 26-35)
In force	Article 26 General provisions
In force	Article 27 Senior management and the board
In force	Article 28 Risk committee
In force	Article 29 Record keeping
In force	Article 30 Shareholders and members with qualifying holdings
In force	Article 31 Information to competent authority
In force	Article 32 Assessment
In force	Article 33 Conflicts of interest
In force	Article 34 Business continuity
In force	Article 35 Outsourcing
	Chapter 2 Conduct of business rules (arts. 36-39)
In force	Article 36 General provisions
In force	Article 37 Participation requirements
In force	Article 38 Transparency
In force	Article 39 Segregation and portability
	Chapter 3 Prudential requirements (arts. 40-50)
In force	Article 40 Exposure management
In force	Article 41 Margin requirements
In force	Article 42 Default fund
In force	Article 43 Other financial resources
In force	Article 44 Liquidity risk controls
In force	Article 45 Default waterfall
In force	Article 46 Collateral requirements
In force	Article 47 Investment policy
In force	Article 48 Default procedures
In force	Article 49 Review of models, stress testing and back testing
In force	Article 50 Settlement
	Chapter 4 Calculations and reporting for the purposes of Regulation (EU) No 575/2013 (arts. 50a-50d)
In force	Article 50a Calculation of KCCP
In force	Article 50b General rules for the calculation of KCCP
In force	Article 50c Reporting of information
In force	Article 50d Calculation of specific items to be reported by the CCP
	Title V Interoperability Arrangements (arts. 51-54)
In force	Article 51 Interoperability arrangements
In force	Article 52 Risk management
In force	Article 53 Provision of margins among CCPs
In force	Article 54 Approval of interoperability arrangements
	Title VI Registration and Supervision of Trade Repositories (arts. 55-77)
	Chapter 1 Conditions and procedures for registration of a trade repository (arts. 55-74)
In force	Article 55 Registration of a trade repository
In force	Article 56 Application for registration
Omitted	Article 57 Notification of and consultation with competent authorities prior to registration
In force	Article 58 Examination of the application
Omitted	Article 59 Notification of ESMA decisions relating to registration
Omitted	Article 60 Exercise of the powers referred to in Articles 61 to 63
Omitted	Article 61 Request for information
Omitted	Article 62 General investigations
Omitted	Article 63 On-site inspections
Omitted	Article 64 Procedural rules for taking supervisory measures and imposing fines
Omitted	Article 65 Fines
Omitted	Article 66 Periodic penalty payments
Omitted	Article 67 Hearing of the persons concerned
Omitted	Article 68 Disclosure, nature, enforcement and allocation of fines and periodic penalty payments
Omitted	Article 69 Review by the Court of Justice
Omitted	Article 70 Amendments to Annex II
In force	Article 71 Withdrawal of registration
In force	Article 71a Publication and notification of decisions about registration of trade repositories
In force	Article 71b Reference to the Tribunal
Omitted	Article 72 Supervisory fees
Omitted	Article 73 Supervisory measures by ESMA
Omitted	Article 74 Delegation of tasks by ESMA to competent authorities
	Chapter 2 Relations with third countries (arts. 75-77)
In force	Article 75 Equivalence
In force	Article 76 Cooperation arrangements
In force	Article 76a Mutual direct access to data
In force	Article 77 Recognition of trade repositories
	Title VII Requirements for Trade Repositories (arts. 78-82)
In force	Article 78 General requirements
In force	Article 79 Operational reliability
In force	Article 80 Safeguarding and recording
In force	Article 81 Transparency and data availability
Omitted	Article 82 Exercise of the delegation
	Title VIII Common Provisions (arts. 83-84)
In force	Article 83 Professional secrecy
Omitted	Article 84 Exchange of information
	Title IX Transitional and Final Provisions (arts. 84a-91)
In force	Article 84a Regulations
In force	Article 84b FCA rules
In force	Article 84c Bank of England rules
Omitted	Article 85 Reports and review
Omitted	Article 86 Committee procedure
Omitted	Article 87 Amendment to Directive 98/26/EC
In force	Article 88 Websites
In force	Article 89 Transitional provisions
In force	Article 89a Further transitional provision
Omitted	Article 90 Staff and resources of ESMA
Omitted	Article 91 Entry into force
Omitted	Annex I List of infringements referred to in Article 65(1)
Omitted	Annex II List of the coefficients linked to aggravating and mitigating factors for the application of Article 65(3)
Omitted	Annex III List of infringements referred to in Article 25j(1)
Omitted	Annex IV List of the coefficients linked to aggravating and mitigating factors for the application of Article 25j(3)
	Done at

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