EMIR Refit

EMIR first came into effect in 2012 with a reporting commencement in 2014.  Since then there have been a number of updates to the regime, often with similar names.  This feels quite confusing so we have summarised the history of the regime changes in our article here.

This depends on whether you have reporting obligations in the European Union (EU) under ESMA, or in the United Kingdom (UK) under the FCA.

The start date for EU EMIR Refit is confirmed for Monday, 24 April 2024.

The start date for UK EMIR Refit is not yet publicly confirmed however most industry participants are anticipating this to be Monday, 30 September 2024.

In total there are 203 fields in the EU EMIR Refit specification.  This is a significant increase from the number of fields that are currently required to be reported.  TRAction are contacting our current clients to advise them what additional information needs to be provided and how to send it to us.  For new clients, we have an updated file specification ready to be provided so you can start preparing to transition to TRAction.

TRAction has outlined the key differences between EMIR and MiFIR. Our team has also pointed out some of the issues that investment firms need to be aware of under EMIR and MiFIR, so that you can stay compliant with the trade/transaction reporting requirements. Read more.

Yes.  EMIR 3 refers to a different set of changes to EMIR Refit.