Catch up – REMIT, EMIR 3.0, REMA and more
This post highlights a few items from the past weeks so far not covered: ACER released feedback from the consultation run over the summer around the upcoming changes to REMIT…
UK EMIR REFIT starts today
The UK version of EMIR REFIT starts today (see here). Those who are under the UK version of EMIR must from today report to UK Trade Repositories using the new…
Catch up: REMIT consultation, fines, UK matters and more
After a break we are restarting this blog today. Here are some key stories from the past weeks. REMIT Implementing Act consultation ACER opened a consultation on the changes to…
FCA suspends changes to the UK MIFID II Ancillary Activity Exemption
The FCA has announced that the proposed changes to the MIFID II Ancillary Activity Test that were scheduled for next year are suspended. However, removal of the requirement to notify…
Payment of 33.14M GBP under TCLC
An asset owner in Scotland has agreed to make a payment of 33.14 million GBP to Ofgem, the GB National Regulatory Authority, for an alleged breach of the Transmission Constraint…
EMIR UK REFIT Q+As and bilateral margining consultations
The FCA has finalised the first 5 sets of Questions and Answers relating to EMIR REFIT UK, following a consultation (see here). The final versions can be found here. Questions…
UK updates – EMIR REFIT consultation and TCLC fine
The Financial Conduct Authority (the NCA in the UK) has opened a consultation on the UK version of EMIR REFIT in the form of proposed Questions and Answers. These can…
Welcome to 2024
The start of a new year gives us a chance to consider what lies ahead. 2024 is the 11th year of this blog, and once again a busy year awaits…
MCM, UK CBAM and AAE – Seasonal greetings
It has been agreed that the Market Correction Mechanism(MCM), which limits the price of wholesale gas (see here) together with other emergency measures, will be extended for another year. The announcement…
FCA consultation on the reform of the commodity derivatives framework
Yesterday the UK's Financial Conduct Authority (FCA) opened this consultation covering the proposed changes to the commodity derivatives regime in the UK. It focuses on changes to the position limits…