On 2 November 2026 the FCA published final Binding Technical Standards and guidance in PS26/21 to streamline the intragroup exemption process from UK EMIR clearing and bilateral margin duties, supporting HM Treasury’s legislative update. The changes take effect on 1 January 2027. The aim is a less burdensome notification process for groups that meet exemption conditions.

What it means: For Greek groups with UK entities or counterparties reporting under UK EMIR, 1 January 2027 is a process-change date—not an automatic end to margin duties. Legal and treasury teams should read PS26/21’s overview chapter, refresh notification playbooks and check whether existing exemptions need fresh action. Greek derivatives servicers and consultancies with UK books should schedule a Q4 2026 gap analysis. Streamlining cuts admin but keeps substantive conditions; failure still triggers margin/clearing obligations. Align onboarding questionnaires with the new regime. Track parallel UK EMIR changes (for example clearing thresholds) on one compliance calendar. Keep an audit trail of exemption decisions per counterparty pair. In practice, teams should name an owner, update the risk register and agree success criteria within 30 days. Where suppliers or customers are affected, send a short notice that points to the primary source and avoids overstated claims. Compliance, cybersecurity and payments operations are linked; a change in one area often requires a pass over contracts, access rights and continuity plans. Finally, keep a review date so the item becomes concrete actions for the Greek business rather than newsletter noise alone.

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