ESMA fined DTCC DR €408,000 for seven infringements of EMIR.
The breaches (between 2014 and 2018) were determined as a result of negligence on DTCC side and relate to failures in ensuring the integrity of data, providing direct and immediate access to regulators and breaches in data confidentiality by providing information to porties that were not entitled to receive it.
7 breaches have been identified and included in the total fine calculation:
EUR 112 000 for granting asset managers access to data that they were not entitled to receive
EUR 66000 for implementing mapping rules which altered the substance of the information reported to it
EUR 66000 for generating reports for Regulators that contained data that was not consistent with the data reported to it
EUR 56000 for by failing to provide CCP Supervisors and Overseers with the transaction data they were entitled to
EUR 66000 for by failing to provide the AFM and the CSSF with the transaction data regarding equity derivatives contracts where the underlying of those contracts were located in their respective jurisdictions
EUR 64000 for failing to provide the ECB with the transaction data regarding derivatives contracts where the counterparties or the underlying of those contracts were located in Lithuania
EUR 44000 for failing to provide the Regulators with all data regarding the OTC derivatives contracts that were opened and exited, cancelled or matured on the same day
Press release -DTCC Derivatives Repository fined €408,000 for EMIR data breaches