On 10 April 2014 some of the legislation that provides for the extraterritorial effect of the European Markets Infrastructure Regulation (“EMIR”) came into force. The remaining legislation will come into force on 10 October 2014. This update considers the new legislation and the non-EU counterparties to which it applies. It aims to set out in one place all the points that have arisen to date in respect of EMIR’s application to non-EU counterparties.
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