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EMIR RTS on Non-EU counterparties published in Official Journal

On 21 March 2014, the delegated regulation specifying the contracts that are considered to have “direct, substantial and foreseeable” effect within the EU or which are necessary to prevent to evasion of rules and obligations for the purposes of EMIR was published in the Official Journal of the EU (see this blog post for more detail).

As a result, the delegated Regulation will come into force on 10 April 2014, except for Article 2 (Contracts with a direct, substantial and foreseeable effect within the EU) which shall apply from 10 October 2014.

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