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Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.
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4 provisions
Title and introductory text
2026 No. 1010
FINANCIAL SERVICES
The Central Counterparties (Transitional Provision) (Extension and Amendment) Regulations 2026
Made
9th September 2026
Laid before Parliament
14th September 2026
Coming into force
1st December 2026
The Treasury make these Regulations in exercise of the powers conferred by Articles 464A(2) and 497(3) of Regulation (EU) 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation No (EU) 648/2012 (the “Capital Requirements Regulation”).
The Treasury are satisfied that exceptional circumstances exist and that it is necessary and proportionate to extend the transitional provisions in Article 497(1) of the Capital Requirements Regulation in order to avoid disruption to international financial markets.
Propose a change1 Citation, commencement and extent
(1) These Regulations may be cited as the Central Counterparties (Transitional Provision) (Extension and Amendment) Regulations 2026.
(2) These Regulations come into force on 1st December 2026.
(3) These Regulations extend to England and Wales, Scotland and Northern Ireland.
Propose a change2 Extension of the transitional period for third-country central counterparties under Article 497 of Regulation (EU) 575/2013
In Article 497 (own funds requirements for exposures to CCPs) of Regulation (EU) 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation No 648/2012, the transitional period referred to in paragraph 1(b)(ii) is extended by 12 months so that it ends seven years after the date of the submission of the application.
Propose a change3 Consequential amendment of the Financial Services and Markets Act 2023 (Commencement No. 15 and Saving and Transitional Provisions) Regulations 2026
In regulation 5 (transitional provision for CCPs treated as QCCPs where the CCPs apply for EMIR recognition on or after 1st January 2027) of the Financial Services and Markets Act 2023 (Commencement No. 15 and Saving and Transitional Provisions) Regulations 2026—
(a) in paragraph (3)(b)(ii), for “six years” substitute “seven years”;
(b) in paragraph (4)(c), for “six years” substitute “seven years”.
Propose a change