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On 15 March 2013 several key technical standards came into force, setting in motion the implementation timetable for the derivatives reforms under the EU regulation on OTC derivatives, central counterparties and trade repositories (EMIR). As a result some of...

International regulators have now published a ‘near-final’ policy framework setting minimum standards for margin requirements for uncleared derivatives. “Margin requirements for non-centrally cleared derivatives - Second consultative document”...

The European Parliament has removed the last obstacle to the EU derivatives reforms, setting in motion an implementation timetable beginning in mid-March 2013. On 7 February, the proposers withdrew the motion for the European Parliament to object to two regulatory...

On 19 December 2012, the European Commission adopted key technical standards under the EU regulation on OTC derivatives, central counterparties and trade repositories (EMIR), starting the countdown towards implementation of the EU derivatives reforms. These come...

The European Commission has, since 2010, been working on a proposal for a Directive on securities law. The purpose of this measure is to create a harmonised set of legal rules for Europe relating to what rights an investor has when the investor is not officially...

The CFTC, the SEC and prudential regulators in the United States have made significant progress on the detailed rules to implement the swap market reforms contained in the Dodd-Frank Wall Street Reform and Consumer Protection Act. The principal changes are in...

In July 2012 the Basel Committee on Banking Supervision (BCBS) and the International Organisation of Securities Commissions (IOSCO) published a consultative document on the margin requirements for uncleared derivatives. Clifford Chance has produced a paper summarising...

In a time when one regulatory initiative has been completed and another one makes its appearance, the payments industry - faced with such a plethora of legislative measures - is trying to live up to the challenge. This client briefing discusses the key...

Do you have sufficient "possession" or "control" for your security interest to qualify for protection under the Financial Collateral Arrangement (No.2) Regulations 2003 (the Regulations)? Since the decision in Gray v G-T-P Group two years...

In the past year, the CFTC, the SEC and prudential regulators in the United States have produced drafts of many of the detailed rules to implement the swap market reforms contained in the Dodd-Frank Wall Street Reform and Consumer Protection Act. Most of the...