New UK clearing rules: same as the old rules?

Clearing experts doubt UK regulation can diverge significantly from Emir and global standards

BoE carry on montage

The UK government has handed the Bank of England (BoE) substantial powers to rewrite the rules for central clearing post-Brexit, but experts say the global role of London’s clearing houses makes it unlikely much will change in reality.

“All of these things need to work in lockstep, so you can’t have frankly any one regulator walking off in a different direction, because then you end up with a load of conflicting rules [that are] literally impossible to comply with,” says a senior risk

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