The Pension Fund Clearing Obligation Exemption (Amendment) Regulations 2025
These Regulations amend the transitional provision in Article 89(1) of Regulation (EU) 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (“UK EMIR”) which exempt certain pension fund derivative contracts from the clearing obligation provided for in Article 4 of UK EMIR. They remove the time limit that previously applied to this exemption.
Lifecycle
Department
Made
10 Jun 2025
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In force
11 Jun 2025
Enabling power
The Treasury make these Regulations in exercise of the powers conferred by section 3(1) of the Financial Services and Markets Act 2023. A draft of these Regulations has been laid before and approved by a resolution of each House of Parliament in accordance with section 3(10) of the Financial Services and Markets Act 2023. The Treasury have consulted the Financial Conduct Authority, the Prudential Regulation Authority and the Bank of England as required by section 3(6) of that Act.
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