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FCA Gives Firms 2 Months to Get EMIR House in Order

On 21 February 2014, the FCA updated the EMIR section of its website regarding EMIR risk mitigation requirements.  It confirmed that it expects firms which were unable to comply with risk mitigation requirements for non-cleared trades relating to:

  • portfolio reconciliation
  • dispute resolution; and
  • portfolio compression 

to have a “detailed and realistic” plan which demonstrates compliance completed and implemented by 30 April 2014.

 

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