Retained EU Law SI 2013/149 United Kingdom

Commission Delegated Regulation (EU) No 149/2013 of 19 December 2012 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on indirect clearing arrangements, the clearing obligation, the public register, access to a trading venue, non-financial counterparties, and risk mitigation techniques for OTC derivatives contracts not cleared by a CCP (Text with EEA relevance)

Read it on legislation.gov.uk (opens in a new tab)
Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Any Person6 Client2

Plus 1 duty on the regulator, Crown ministers and public bodies — folded into the section list below.

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Any Person — also bound by 2340 other Acts
Client — also bound by 62 other Acts

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.art002 Requirements for the provision of indirect clearing services by clients Regulated
  • Meet conditions to provide indirect clearing services to indirect clientsClient
s.art003 Obligations of CCPs Regulated
Other duties (1) — Crown / regulator
  • CCPs must open and maintain indirect client accounts as requestedStatutory regulator
s.art004 Obligations of clearing members Regulated
  • Provide indirect clearing services with proper account segregation and default proceduresAny Person
s.art005 Obligations of clients Regulated
  • Offer indirect clients choice of account types and inform them of risksClient
s.art012 (Article 11(14)(a) of Regulation (EU) No 648/2012)Timely confirmation Regulated
  • Confirm OTC derivative contracts within business-day deadlines and report unconfirmed transactionsAny Person
s.art013 (Article 11(14)(a) of Regulation (EU) No 648/2012)Portfolio reconciliation Regulated
  • Agree and perform regular portfolio reconciliation for OTC derivativesAny Person
s.art014 (Article 11(14)(a) of Regulation (EU) No 648/2012)Portfolio compression Regulated
  • Analyse and conduct portfolio compression for OTC derivatives twice a yearAny Person
s.art015 (Article 11(14)(a) of Regulation (EU) No 648/2012)Dispute resolution Regulated
  • Agree dispute resolution procedures for OTC derivatives and report large disputesAny Person
s.art017 (Article 11(14)(b) of Regulation (EU) No 648/2012)Criteria for using marking-to-model Regulated
  • Have a compliant marking-to-model for OTC derivative valuationsAny Person
14 other provisions — procedural and definitional
s.art001 Definitions
s.art005 Requirements for the provision of indirect clearing services by indirect clients
s.art005 Requirements for the provision of indirect clearing services by second indirect clients
s.art006 Details to be included in the notification
s.art007 Criteria to be assessed by ESMA
s.art008 Details to be included in ESMA’s Register
s.art009 Specification of the notion of liquidity fragmentation
s.art010 (Article 10(4)(a) of Regulation (EU) No 648/2012)Criteria for establishing which OTC derivative contracts are objectively reducing risks
s.art011 (Article 10(4)(b) of Regulation (EU) No 648/2012)Clearing thresholds
s.art016 (Article 11(14)(b) of Regulation (EU) No 648/2012)Market conditions that prevent marking-to-market
s.art018 (Article 11(14)(c) of Regulation (EU) No 648/2012)Details of the intragroup transaction notification to the competent authority
s.art019 (Article 11(14)(d) of Regulation (EU) No 648/2012)Details of the intragroup transaction notification to ESMA
s.art020 (Article 11(14)(d) of Regulation (EU) No 648/2012)Information on the intragroup exemption to be publicly disclosed
s.art021 Entry into force and application

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.