The EMIR Refit Regulation was published in the EU Official Journal on 28 May 2019. It is intended to amend EMIR to simplify certain requirements and reduce costs and burdens on corporates including amending clearing thresholds, reporting obligations and counterparty classification. The legislation will enter into force on 17 June 2019. While various aspects of EMIR Refit have phase-in periods, other elements of EMIR Refit will come into effect immediately. Clients are advised to act quickly to consider whether their obligations under EMIR have changed.
Our briefing (which can be found here) provides a summary of the key changes to clearing and reporting obligations under the new Regulation.
Late last month, the Securities and Futures Commission (SFC) announced that agreement had been reached with the China Securities Regulatory Commission (CSRC) to implement the investor identification model for Stock Connect Northbound trading (NB Investor ID Model) on 17 September 2018. This will apply to Northbound trading under both the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect. Continue reading
China is advancing its policies to open up its markets and attract more foreign investment. This year, the financial sector is one of the focus areas for liberalisation. On 11 April 2018, Yi Gang, the governor of People’s Bank of China announced a detailed timetable (Timetable) for certain liberalisation policies in respect of the financial sector. In this e-bulletin, we summarise the key aspects of the Timetable and some of the other related regulations which have been issued recently. Please click here to read our full briefing.
The Australian Government has made and registered a critical Regulation dealing with mandatory clearing of derivatives and an exemption allowing certain single-sided reporting. Continue reading