EMIR Refit: Reporting Checklist

Date: 
July 14, 2020 3:00 PM BST
Type: 
Webcast
Division: 
ACA Compliance (Europe)
Speaker(s): 
Matthew Chapman, Director, Adam Jacobs-Dean, Managing Director, Global Head of Markets Regulation AIMA

Are you aware of how the latest requirements impact on your transaction reporting obligations?

The most recent phase of the amended European Market Infrastructure Regulation (“EMIR REFIT” or simply “REFIT”) came into effect on 18 June 2020. These latest requirements are designed to simplify a derivatives regime currently seen as burdensome to some market participants, particularly those whose risk profile is unlikely to impact macro stability.

Most EU counterparties to derivative contracts are either directly or indirectly affected, with the reduced burden enjoyed by some being offset by additional responsibilities for others.

The changes have come against the backdrop of ESMA’s criticism of the FCA’s “insufficient supervisory approach to EMIR data quality supervision” (October 2019) and of firms which are “not capable to monitor [or] are not even aware that by delegating reporting they cannot transfer also their responsibility for the reporting.” Both of which suggest that further regulatory scrutiny may be on the horizon.

Discussion Topics

This webcast will cover:

  • How the reporting requirement has changed for AIFMs, UCITS Management Companies, brokers and MiFID investment firms with NFC- clients;
  • What steps those entities need to have taken to reflect the recent changes;
  • What controls those entities should have in place to ensure continued compliance

Speakers

  • Matthew Chapman, Director, ACA Compliance Group
  • Adam Jacobs-Dean, Managing Director, Global Head of Markets Regulation AIMA