Contents
- 1 Citation, commencement and extent
- 2 Extension of the transitional period for third-country central counterparties under Article 497 of Regulation (EU) 575/2013
- 3 Consequential amendment of the Financial Services and Markets Act 2023 (Commencement No. 15 and Saving and Transitional Provisions) Regulations 2026
1Citation, commencement and extent#
(1)These Regulations may be cited as the Central Counterparties (Transitional Provision) (Extension and Amendment) Regulations 2026.
(2)These Regulations come into force on 1st December 2026.
(3)These Regulations extend to England and Wales, Scotland and Northern Ireland.
2Extension of the transitional period for third-country central counterparties under Article 497 of Regulation (EU) 575/2013#
In Article 497 (own funds requirements for exposures to CCPs) of Regulation (EU) 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation No 648/2012, the transitional period referred to in paragraph 1(b)(ii) is extended by 12 months so that it ends seven years after the date of the submission of the application.
3Consequential amendment of the Financial Services and Markets Act 2023 (Commencement No. 15 and Saving and Transitional Provisions) Regulations 2026#
In regulation 5 (transitional provision for CCPs treated as QCCPs where the CCPs apply for EMIR recognition on or after 1st January 2027) of the Financial Services and Markets Act 2023 (Commencement No. 15 and Saving and Transitional Provisions) Regulations 2026—
(a)in paragraph (3)(b)(ii), for “six years” substitute “seven years”;
(b)in paragraph (4)(c), for “six years” substitute “seven years”.
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