The European Commission adopted on Monday 21 September, an equivalence decision with EU legislation of the UK prudential rules on central clearing counterparties (CCPs) limited to 18 months (see EUROPE B12560A24).
The decision, which was announced in the July Communication on the state of preparedness for Brexit (see EUROPE B12524A10), will therefore apply as of 1 January 2021 – the date on which the United Kingdom will have left the Single Market – and until 30 June 2022. In...