Regulatory Alerts2021-06-09
Joint Communication 2 of 2021: Effective Date for Margin Requirements on Non-Centrally Cleared OTC Derivatives
The Financial Sector Conduct Authority and Prudential Authority have designated 16 August 2021 as the effective date for Joint Standard 2 of 2020, which establishes margin requirements for non-centrally cleared over-the-counter derivative transactions. Published through Joint Notice 1 of 2021, this determination activates the regulatory framework under the Financial Sector Regulation Act and Financial Markets Act for all relevant market participants. The finalized rules are now accessible on the regulators' websites, with operational compliance and further inquiries directed to their designated contact channels.
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