State Street: firms ‘unprepared’ for UMR compliance

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A large number (81 percent) of asset management firms are unprepared to comply with the Uncleared Margin Rules (UMR) despite deadline extensions to September 2021 and September 2022, according to a new survey by State Street.

Preparedness was measured by the perceptions, plans and readiness of 300 asset managers and allocators in 16 countries.

Of those surveyed, 86 percent of respondents were preparing for either a phase V (September 2021) or phase VI (September 2022) deadline, as many more buy-side firms are set to be included in the scope of UMR in the next two years.

 

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