FCA EMIR Notifications Web Portal Now Available
On 7 October 2013, the FCA announced that its EMIR web portal is now available on its EMIR notifications and exemptions webpage. This portal allows for notifications from:
- Financial counterparties about any disputes concerning OTC derivative contracts;
- Non-financial counterparties that enter into positions in OTC derivative contracts that exceed the clearing threshold; and
- Financial and non-financial counterparties for the intragroup exemption from the clearing obligation.
The webpage also includes the following updates:
- The deadline for reporting disputes outstanding between 15 September and 30 September 2013 has been extended to 22 October 2013 to provide counterparties with more time to register (see this blog for more details);
- Counterparties submitting notifications or applications for the intragroup exemption will not be able to proceed beyond section B of the form or make a submission until a further update is made by the FCA;
- A new section on how counterparties should register to use the portal; and
- A web portal user-guide and Q&A to assist counterparties using the system.