Regulatory Alerts2021-08-16
Joint Communication 4 of 2021: Implementation Roadmap and Information Request for OTC Derivative Margin Requirements
The Financial Sector Conduct Authority and Prudential Authority have issued Joint Communication 4 of 2021 to establish an implementation roadmap and information request for margin requirements on non-centrally cleared over-the-counter derivative transactions. Licensed providers must submit completed questionnaires by 1 December 2021 and utilize Form A or Form B to apply for approval of quantitative portfolio margin models or risk-sensitive haircut approaches. The Authorities will assess applications through June 2022 while concurrently piloting interim daily reporting via Excel templates ahead of a long-term technological solution.
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