Countdown to revised EMIR Reporting begins
On 19 October 2016, an important milestone to the introduction of new EMIR reporting technical standards was reached as the European Commission published the Delegated Regulation with regard to RTS on the minimum details of the data to be reported to trade repositories. It was endorsed as a result of the Final Report review of the RTS/ITS on reporting under Article 9 of EMIR, submitted by ESMA to the European Commission on 13 November 2015.
We are now expecting the revised reporting technical standards to go live at the end of October 2017. This is subject to the following schedule:
- Once the European Commission submits the RTS on the minimum details of the data to be reported to trade repositories to the European Parliament, it will be subject to a three months non-objection timeline.
- This RTS shall enter into force on the 20th day following its publication in the Official Journal of the EU (after the final tri-party review between the European Commission, European Parliament and Council).
- It shall only apply ninth months after its date of entry into force.
For further information, please refer to the documentation below: