The update to the EMIR reporting obligation (EMIR REFIT: Article 9) goes live 18th June 2020 (EMIR REFIT: Annex I Article II).
This includes the following changes in responsibility;
Financial Counterparties (FC) responsible for NFC-
FCs who trades with an NFC- will be responsible for reporting both sides of the transaction.
Note: ESMA provided additional guidance on this reporting structure in EMIR Q&A TR54\n
NFC- trading with an FC outside of the EU
An NFC- is not required to report as long the FC reports to an equivalent regime outside of the EU.
Management company of UCITS / AIFs
If a UCITS or an AIF enters into a derivative transaction, the management company will be responsible for reporting on behalf of the UCITS or AIF.
Authorised Entity of IORP
The authorised entity responsible for managing and acting on behalf of Institutions for Occupational Retirement Provision (IORP), that does not have legal personality, will be responsible for reporting the derivative contract on behalf of the IORP.