Blogs

As the financial markets grow increasingly global, regulatory compliance continues to be a critical concern for financial service companies worldwide. With the introduction of EMIR Refit, many are pondering: Is it necessary to update regulatory reporting to Refit standards if your operations are based outside the European Union and your branch is trading derivatives in …

Read more “Do you need to upgrade to EMIR Refit if you have a branch in the EU or UK?”

As the UK financial landscape evolves, adherence to regulatory frameworks is crucial for maintaining market integrity. One of the most significant regulations impacting financial institutions today is the EMIR Refit (European Market Infrastructure Regulation). Understanding the risks associated with non-compliance with EMIR Refit is essential for firms looking to safeguard their operations and reputation. What …

Read more “The Risks of Non-Compliance with EMIR Refit in the UK: What Financial Institutions Need to Know”

The Central Bank of Ireland (CBI) has reprimanded and fined an investment fund for failing to report derivatives trades to a trade repository in breach of its reporting obligation under the European Markets Infrastructure Regulation (EMIR). The fine was imposed on November 30, 2023, and is the first time the CBI has fined an investment …

Read more “CBI Fines Global Reach, Highlighting Key Lessons for EMIR Compliance”

Streamlining Derivatives Reporting EMIR Refit, the European Market Infrastructure Regulation Regulatory fitness update, has brought about substantial alterations to the regulatory landscape governing derivatives trading within the European Union. These changes aim to enhance EMIR’s efficiency but introduce unique challenges for market participants and regulatory bodies. To successfully overcome these challenges, a comprehensive approach is …

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The financial landscape’s regulatory terrain remains intricate and ever-evolving. The Financial Conduct Authority (FCA) continues its vigilance against common transaction reporting errors through its latest newsletter, Market Watch 74. This edition stands out not only for addressing known issues but also for shedding light on previously unexplored concerns, offering a comprehensive guide to compliance. Market …

Read more “Navigating Regulatory Challenges: FCA’s Market Watch”

With the impending changes brought about by the EMIR Refit, it’s essential for businesses to assess their readiness and take proactive steps to ensure compliance. The European Market Infrastructure Regulation (EMIR) Refit introduces significant modifications that can impact various aspects of your operations. To safeguard your business and successfully navigate this regulatory evolution, consider the …

Read more “Is Your Business Ready to Navigate the EMIR Refit Changes?”

FCA released the MarketWatch 74 newsletter on market conduct and transaction reporting issues on 25th July. Subsequently FCA released a statement “Supervisory flexibility on transaction reporting” which included updates on a few fields which are going to create a possible divergence with the EU in future. We will only focus on RTS22 updates from Market …

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ESMA has provided guidelines on reporting of derivatives on crypto-assets as part of EMIR Refit guidelines so it is now clear that crypto derivatives are required to be reported removing any ambiguity. A new field is introduced by the regulator to identify such derivatives. Scope of reporting is expanded to only those derivatives on crypto-assets …

Read more “EMIR Refit is expanding scope of derivatives reporting and now includes Crypto derivatives reporting.”

Emir Refit UPI – In this blog we take a look at the newly introduced field UPI. ANNA DSB defines UPI as “UPI stands for ‘Unique Product Identifier’ and is designed to facilitate effective aggregation of over-the-counter (OTC) derivatives transaction reports on a global basis”. A Unique Product Identifier (UPI) is a unique code that …

Read more “Getting ready for EMIR REFIT (UPI) – Unique Product Identifier (UPI)”

Emir Refit – UTI stands for Unique Trade Identifier, which is a unique identifier assigned to a trade in order to report trade data to trade repositories. The UTI is a critical component of the trade reporting process under EMIR REFIT, as it helps ensure the accuracy and integrity of the trade data that is …

Read more “UTI reporting changes in EMIR REFIT”