A circular from CYSEC has been released mentioning they are aware of EMIR reporting operational issues.
They don’t go into the detail of the data quality issues they have seen, but they do talk about lack of operational processes for spotting TR errors
CYSEC
03/01/2019
The Cyprus Securities and Exchange Commission (‘CySEC’) recently carried out a review of the quality of data reported to Trade Repositories by Cyprus Investment Firms (‘CIFs’)\n\nThe purpose of the Review was to assess the quality and timeliness of data reported by CIFs to Trade Repositories.
Findings;
CIFs were not updating positions as they were terminated;
No reconciliation
A significant number of reports submitted to TRs by CIFs were rejected.
No monitoring of errors and exception management process
Unpaired/unmatched trades
Regulated Entities are advised to nominate a person within their firm, who will be responsible for the daily monitoring of EMIR reporting.