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ARTICLE · 29 APRIL 2015

Reporting Requirements: ESMA Publishes Updated EMIR Q&A

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ESMA (the European Securities and Markets Authority) issued the 13th update of its Q&A document on the implementation of EMIR (European Markets Infrastructure Regulation).

MaltaFinance and Banking
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ESMA (the European Securities and Markets Authority) issued the 13th update of its Q&A document on the implementation of EMIR (European Markets Infrastructure Regulation).

The update is in relation to the second level of the EMIR validation specifications which are applied by Trade Repositories (TRs) in order to ensure compliance with the EMIR reporting regime. These validation specifications involve the verification of the values reported, which must comply with the format and content rules specified in the technical standards on reporting.

Once the update has been implemented by the TRs, it is likely that a failure to adhere to the specific reporting requirements will activate a rejection of the report by the TR.  This is the principal factor which should lead to enhancing better quality of data, since the rejection of a report will show which fields are not compliant with the EMIR reporting requirements and hence require correction. This will create a better

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