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ARTICLE · 09 OCTOBER 2023

Significant Changes In Reporting Rules For Derivatives Users

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Under EMIR, significant changes have been made to the reporting rules applicable to derivatives users. The new reporting rules will apply to counterparties from 29 April 2024 for both new and outstanding derivatives transactions.

IrelandFinance and Banking
Richard Kelly
Richard Kelly
Alma Campion
Alma Campion
Alan Bunbury
Alan Bunbury
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Under EMIR, significant changes have been made to the reporting rules applicable to derivatives users. The new reporting rules will apply to counterparties from 29 April 2024 for both new and outstanding derivatives transactions.

EMIR Refit

In May 2019, we provided a series of updates on EMIR Refit ahead of that legislation entering into force in June 2019: these are available here, here, here and here. While the majority of the new requirements under EMIR Refit applied upon the regulation entering into force, other requirements are being phased in. Amongst other matters, EMIR Refit mandated the preparation of updated rules in relation to the existing requirement on transaction parties to report the details of all OTC and exchange-traded derivative contracts that they conclude, modify or terminate to a trade repository by the end of the next working day.

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