UK to permanently recognise US CCPs

Regulators also launching review on long-term status of UK pension fund clearing exemption

HM Treasury building in Westminster, London

After four years of temporary equivalence in the wake of Brexit, UK regulators plan to announce permanent recognition for US clearing houses by the year-end.

In February 2019, the UK’s Prudential Regulation Authority and Financial Conduct Authority granted US central counterparties (CCPs) temporary recognition, allowing them to continue offering clearing services to firms in the UK after the country’s official exit from the EU the following year. According to a UK Treasury official, this

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