EU Regulator Lays Plan For UK Derivatives Ahead Of Brexit

Law360, London (February 1, 2019, 8:41 PM GMT) -- Europe’s top securities regulator on Friday etched a map to help financial firms trading derivatives navigate the Byzantine reporting requirements that will fall into place if the U.K. leaves the European Union without a withdrawal agreement in March. 

The European Securities and Markets Authority clarified how and to whom firms must send data on derivatives sent to trading repositories, or hubs that collect and store information on deals for over-the-counter derivatives. The EU's rules for derivatives require regulated firms to report their trades to depositories, which are tasked with maintaining the records.

The guidelines apply to firms in the U.K. and the EU...

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