The FCA has updated its webpage in relation to their supervisory priorities arising from the implementation of the European Markets Infrastructure Regulation (EMIR).
In line with its supervisory approach, the FCA expects firms which are unable to comply with risk mitigation requirements for non-cleared trades relating to portfolio reconciliation, dispute resolution and compression to have a detailed and realistic plan
to achieve compliance within the shortest time-frame possible.
The FCA expects that such plans will be completed and implemented by 30 April 2014 and that firms will be able to demonstrate compliance after that date.
Related link:
http://www.fca.org.uk/firms/markets/international-markets/emir/fca-supervisory-priorities#