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Invite colleaguesPreparing for the implementation of EMIR REFIT
Abstract
The new obligations under EMIR REFIT (as defined below) require firms to adopt new reporting standards for derivatives transactions and upgrade outstanding derivatives transactions to the new reporting format. The implementation date is 29th April, 2024 in the EU and 30th September, 2024 in the UK. To navigate the complexities of EMIR REFIT, firms should start preparing for the implementation of the new requirements as soon as possible.
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Author's Biography
Carolyn Jackson is partner in Katten Muchin Rosenman UK LLP's Financial Markets and Regulation group. She is a dual-qualified lawyer (England, New York) and advises clients on complex cross-border issues involving the regulation of financial institutions and financial products. Clients with international financial operations regularly face cross-border regulatory challenges. Carolyn is adept at solving these compliance puzzles, which often involve adherence to the Dodd–Frank Act, the European Market Infrastructure Regulation and other foreign financial laws. When necessary, she crafts innovative solutions by restructuring financial products or business operations or by obtaining regulatory relief. Carolyn's depth of knowledge and practical approach are shaped by her first-hand experience; she managed the New York trading desk of several investment banks and was formerly the executive director of the International Swaps and Derivatives Association, Inc. Proprietary trading firms, banks, asset managers, clearing houses and exchanges rely on her to find creative-yet-sensible solutions.
Ciara Mcbrien is an associate in Katten Muchin Rosenman UK LLP's Financial Markets and Regulation group. She works with a range of market participants who grapple with regulatory and compliance issues across the financial services sector. Ciara advises on a broad spectrum of matters from regulatory compliance, to updating policies and procedures, negotiating International Swaps and Derivatives Association documentation, and providing regulatory insights and recommendations. She has previous experience working in large financial institutions, and uses the knowledge and expertise gained to deliver commercial advice for clients. Prior to joining Katten, Ciara worked in New York in the Markets Legal department of a swap dealer. She also worked in the Regulatory Transformation team of a global investment institution. This means that she understands and appreciates the complex regulatory issues that firms face in the financial services sector.