Regulatory Alerts2021-11-24
Added · Updated
PS23/2: Changes to reporting requirements, procedures for data quality and registration of Trade Repositories under UK EMIR
The FCA and Bank of England amend UK EMIR reporting requirements to align with CPMI-IOSCO guidance, introducing standardized XML schemas, global identifiers, and new reportable fields including an Execution Agent. The FCA streamlines the registration process for Trade Repositories already registered under UK SFTR and establishes new sourcebook rules requiring TRs to implement effective data reconciliation, verification, and transfer procedures. These final rules apply to counterparties, Trade Repositories, and third-party service providers, with most provisions entering into force on 30 September 2024 and a six-month update period for outstanding reports ending on 31 March 2025.
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