Regulators to streamline UK EMIR Intragroup regime

The FCA is consulting on making the UK EMIR Intragroup Regime clearer for counterparties wanting exemptions from clearing and margin requirements. The current temporary regime expires at the end of 2026 and industry has asked for a streamlined exemption process. The FCA is consulting on how to create a new, UK-specific regime going forwards, while Treasury has published legislation that will also simplify the regime by amending UK EMIR.

The proposals will:

• reduce the supplementary documents needed for intragroup exemptions from the bilateral margin requirements, and align the process more closely with what is needed when applying for exemptions from the clearing obligation; and
• simplify the Binding Technical Standards.

Consultation on both the FCA’s proposals and the Treasury’s draft statutory instrument closes on 16 January 2026.