Regulations implementing long-term pension fund clearing exemption come into force

The Pension Fund Clearing Obligation Exemption (Amendment) Regulations 2025 were made on June 10, 2025, and came into effect the following day.

The amending Regulations ensured that the pension fund clearing exemption on over-the-counter derivatives, central counterparties and trade repositories (UK EMIR) did not expire on June 18, 2025, as previously scheduled. The Regulations also remove any further time limit on the exemption.