On 28 May 2019, the refit of the European Market Infrastructure Regulation (EMIR 2.1) was published in the Official Journal. The new regulation will amend existing obligations and come into force on 17 June 2019. It requires market participants to take action to comply with new obligations. EMIR 2.1 seeks to simplify EMIR. In particular, it introduces a new category of "small financial counterparties" which will be exempted from the obligation to clear their transactions through a central counterparty (CCP), while remaining subject to risk mitigation obligations. Smaller non-financial counterparties will also have reduced clearing obligations and intra-group exemptions. Please join FIA for a webinar on EMIR 2.1 and the impact on FCs and NFCs.
Mitja Siraj, Vice President of Legal, Europe, FIA and Emma Dwyer, Partner, Allen & Overy