Regulatory Alerts2023-08-03 | C593New EMIR Reporting Standards Under Regulation (EU) 648/2012
The Cyprus Securities and Exchange Commission issued Circular C593 to inform regulated entities of new EMIR reporting standards becoming applicable on 29 April 2024. The updated framework mandates ISO 20022 XML formats, expands reportable fields from 129 to 203, and introduces stricter requirements for Unique Trade Identifier generation and data reconciliation. Entities are required to update their reporting procedures, monitor compliance daily, and notify authorities of significant reporting issues to ensure alignment with the amended regulatory obligations.
Share