The European Securities and Markets Authority, the EU's securities markets regulator, has published its Final report and Guidelines on the reporting of periodic information and material changes by Trade Repositories (TRs) supervised under EMIR (Regulation 648/2012) and SFTR (Regulation 2015/2365).
The aim of the Guidelines is to increase the transparency of TRs supervised by ESMA. It is expected that their introduction will bring about improvements including fewer sporadic attempts to request this information resulting in increased confidence that no information is omitted, reduced processing time of information received, achieving a level playing field by establishing harmonised reporting templates and, ensuring collection of the complete information that is necessary for ESMA's risk-based supervision.
The Guidelines, which will apply from 30 June 2021, will also streamline TR processes and ensure the accuracy of information used for the calculation of TR supervisory fees.
It should be noted that 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.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
