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.



Contacts

Lesley Browning
Lesley Browning
Partner
Email
lesley.browning@nortonrosefulbright.com
T: +44 20 7444 2448 / +44 77 1030 3311
Shane O'Reilly
Shane O'Reilly
Partner
Email
shane.o'reilly@nortonrosefulbright.com
T: +44 (20) 74443895

Industry:

Practice area:

Recent publications

Navigating the IPO

Publication

Navigating the IPO

Taking your company public is an important milestone, and whilst the landscape for IPOs is complex and dynamic, choosing the right path is essential.

Global | July 09, 2025

Corporate, fusions & acquisitions et marchés de capitaux
MA Outlook 2025 Survey Crop 1

Publication

Global M&A trends and risks 2025

Following a relatively promising start to the year for mergers and acquisitions (M&A) activity, the US tariff announcements shook dealmaker confidence, triggering global trade uncertainty and stalling M&A deals across the global M&A landscape.

Global | June 10, 2025

Corporate, fusions & acquisitions et marchés de capitaux
Wide angle abstract background view of steel light

Publication

UK LTAFs: Playing the long game

The UK Long-Term Asset Fund (LTAF) remains a relatively new type of fund structure designed to give investors access to long-term and illiquid assets, including private equity, private debt, real estate and infrastructure.

Global | June 03, 2025

Site search

Subscribe and stay up to date with the latest legal news, information and events . . .

Register now