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FCA Shares Reporting Advice with Clearing Members of CCPs under EMIR

On 30 June 2014, the FCA shared the reporting advice it had been providing to Authorised firms who are also Clearing Members of an authorised or recognised CCP under EMIR.

The FCA adopts a proactive approach by advising these firms that under EMIR, the CCPs need to be made aware of the following for reporting purposes:

  • the FCA is their competent authority, and
  • the CCP should send the completed template to the FCA at ccpreturns@fca.org.uk

In the same breath, the FCA indicates that the PRA is conducting a similar communication exercise for the dual-regulated firms.

Clearing Members should expect to receive from the CCPs the completed template entitled “Information related to hypothetical capital” (Regulation 484/2014). Clearing members may need this information to calculate their CRD IV funds requirements.

The first submission by the CCPs is due within 15 working days of 30 June 2014.

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