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A rare example of a regulator admitting it got a bit carried away, the EMIR refit — which project managers will be saddened to hear has now passed into law, so no longer a suitable occupation for the foreseeable future, was a selective rowing back on aspects of 2012’s European Markets Infrastructure Regulation (EU Regulation 648/2012 (EUR Lex)) — known and loved by all as EMIR. City law firms will be equally distressed to see it pass into history, depriving them of yet another opportunity to bore the living daylights out of their clients with tedious bulletins, CPD lectures and assorted panel discussions on the topic, meaning they will have to think about something else. Good news: there is still LIBOR remediation and CSDR for that.
What changed?
Who honestly cares? It changed. We move on.
See also