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1st August 2024

Finalised UK EMIR REFIT Validation Rules

With EU EMIR REFIT going live in April, the UK is currently in the process of confirming the changes which are relevant for UK EMIR REFIT, which is expected to go live from 30 September 2024.

Recently the FCA has finalised the UK EMIR Validation Rules to address errors or close gaps which would have affected accurate reporting of counterparties. The majority of changes in its most recent update was to align itself with ESMA in certain fields. The other portion of changes were made to make the validations specific to UK reporting requirements.

The FCA states it does not plan to make any changes to the validation rules before they go into effect, but there is always a possibility that an amendment could exist in the future.