Regulatory Update – a Focus on EMIR and MiFIR Trade Reporting Continues

Regulatory Update

2020 does not have to be harder than it already is. With all the reading that needs to be done to keep up with Coronavirus, US Presidential Elections and Brexit, dealing with regulatory updates too can feel a little unbearable. Here is an outline of the major regulatory updates in Europe about EMIR and MiFIR transaction reporting.

FCA Continues Its Focus on Transaction Reporting

An emerging trend of regulatory focus in the United Kingdom is EMIR and MiFIR transaction reporting, illustrated by the prominent attention given to it in the FCA’s regular Market Watch publication. Since April 2019, transaction reporting has featured three times in the corporate regulator’s newsletter.

This article gives you an overview of common reporting errors, Brexit scenario, how CySEC echoes FCA’s commentary, and ESMA’s important updates on EMIR/MIFIR.

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Reporting Millisecond

Do You Need to Report (MiFIR) Trade Time in Milliseconds?

When reporting transactions to regulatory bodies, there are variations in the data format that is required from region to region.  An example of this difference is the accuracy of the timestamp that is deemed acceptable. Under MiFID II/ MiFIR,milliseconds are required in an attempt to increase the transparency and detail of the information passed to the regulator.

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