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28th August 2020

MW 64: BREXIT and MiFIR Transaction Reporting

The FCA has released MW 64 and are expecting reporting firms to satisfy their transaction reporting obligations despite the eventual outcome of BREXIT.

“It is crucial that we receive MiFID II transaction reports to ensure market oversight and the integrity of financial markets. So, firms and Approved Reporting Mechanisms should comply with the changes to their regulatory obligations by the end of the transition period on 31 December 2020. 

Firms that are not able to comply fully with the regime immediately following the end of the transition period will need to be able to back-report missing, incomplete or inaccurate transaction reports as soon as possible.”

Control Now, founded in 2017, is a provider of transaction reporting assurance software tools to empower market participants to perform oversight of their regulatory reporting processes.