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ARTICLE · 24 APRIL 2024

Reminder To Managers Re Upcoming Changes To EMIR Reporting

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The European Market Infrastructure Regulation (EMIR) data reporting requirements apply to European Union (EU) funds and EU fund managers.

European UnionFinance and Banking
Ezra Zahabi
Ezra Zahabi
Helen Marshall
Helen Marshall
Jan-Paul Bruynes
Jan-Paul Bruynes
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Background

The European Market Infrastructure Regulation (EMIR) data reporting requirements apply to European Union (EU) funds and EU fund managers. UK EMIR imposes reporting requirements on UK funds and UK managers. The reporting requirements may also apply to US and other delegate investment managers as a result of their contractual responsibilities for reporting on behalf of the fund. The EU technical standards,1 which set out the data fields to be reported to a trade repository under EMIR, are changing with effect from 29 April 2024.

Similar changes are also introduced by the Financial Conduct Authority (FCA) to the reportable fields in the UK EMIR technical standards. The UK changes are due to take effect on 30 September 2024. To a large degree, the changes are consistent with the EU changes to EU EMIR reporting requirements. However, there are a small number of areas of divergence from the EU approach. See our prior alert EMIR - Proposed Changes to EU

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