The European Securities and Markets Authority, the EU’s securities markets regulator, publishes today Final report and Guidelines on reporting of periodic information and material changes by Trade Repositories (TRs) supervised under EMIR and SFTR.
The Guidelines aim to increase transparency of TRs supervised by ESMA. Their introduction will bring the following benefits:
- reduce efforts to request this information sporadically and ensure that no information is omitted;
- reduce processing time of information received;
- ensure a level playing field by establishing harmonised reporting templates;
- ensure complete information that is necessary for ESMA’s risk-based supervision;
- improve the internal planning of ESMA’s supervision teams with regard to information review and facilitate processing; and
- standardise practices that are already implemented by TRs on a best effort basis.
The Guidelines will also streamline TR processes and ensure the accuracy of information used for the calculation of TR supervisory fees.
These guidelines will apply from 30 June 2021. All periodic information items that have annual frequency and a reporting deadline of 31 January should, in the first year, be submitted by 30 June 2021.
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