A commercial law firm Nabarro LLP has put together a short Q&A on EMIR, answering the following questions:

1. Should I care about EMIR? (I should hope so)
2. What are the requirements under EMIR?
3. How do I satisfy the reporting requirement?
4. How will clearing work?
5. What about trades that are not centrally cleared?
6. I've heard that EMIR applies differently to "financial counterparties" and "non-financial counterparties", is this correct?
7. What are the thresholds between an NFC+ and an NFC-?
8. What will firms need to do to satisfy the collateral requirement?
9. What is the timing of EMIR?
10. How does EMIR fit in with the Alternative Investment Fund Managers Directive (AIFMD)?

The answers are set out here: 10 Things You Need To Know About The European Market Infrastructure Regulation – Finance and Banking – United Kingdom.