Regulatory Alerts2023-12-12
Joint Communication 5 of 2023: Regulatory Reporting for Margin Requirements on Non-Centrally Cleared OTC Derivatives
The Financial Sector Conduct Authority and Prudential Authority issued Joint Communication 5 of 2023 to outline regulatory reporting metrics for margin requirements on non-centrally cleared over-the-counter derivative transactions. Both providers and financial institution counterparties, including foreign entities, are required to report specified transaction data using the defined templates and metrics detailed in Annexure A. This preliminary communication prepares market participants for a forthcoming Joint Notice that will formally establish the reporting form, frequency, and submission deadlines.
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