FCA guidance: EMIR reporting after the transition period

December 2, 2020

The FCA have published a statement explaining EMIR reporting obligations of UK Counterparties and UK Trade Repositories coming into life after end of transition period (31/12/2020).

The document contains clarification regarding:

  • Counterparties under UK EMIR obligation,
  • Timeline of changes
  • Scope of UK EMIR reporting for new and outstanding trades
  • UK EMIR validation rules
  • Applicability of non-legislative materials published by ESMA
  • Intragroup exemptions
  • Mandatory delegated reporting (REFIT) by UK FCs for UK NFC-s
  • Equivalence of EU Regulated Markets under UK EMIR
  • Transaction Repository (TR) requirements:
    • registration
    • handling historic data by TRs
    • Inter-TR reconciliation
    • publication of data
    • Authorities access to data

https://www.fca.org.uk/publication/documents/reporting-derivatives-under-uk-emir-after-transition-period.pdf

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