Opportunity and Caution Abound with Extra Year for UMR
With the uncleared margin rules deadline extended, firms have an additional year to prepare, but they must do so while navigating the coronavirus pandemic and its economic fallout.

On April 3, the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (Iosco) announced that the implementation dates for the final phases of the uncleared margin rules (UMR)—phases five and six—would be pushed back by one year each due to the outbreak of Covid-19.
The extension was welcomed by industry participants, but as firms prepare to meet the new deadlines, they will be busy managing the economic and operational challenges caused by
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