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2nd December 2020

FCA Guidance: EMIR Reporting after the Transition Period

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

Control Now Ltd, founded in 2017, is a provider of Transaction Reporting Assurance software tools to empower market participants to perform oversight of their Regulatory Reporting Processes. Control Now Ltd provide TR Accuracy (Data Quality Assurance) and TR Completeness (Reconciliations) services. Please get in touch for a Free Health Check –