The ECON committee of the European Parliament meets tomorrow, and will discuss the changes proposed as part of the EMIR review as part of the agenda, which can be found here.  The proposed changes in the EMIR Review include at a high level:

• Trades between internal counterparties not to be reportable where a non financial counterparty is involved.
• If an “NFC-” trades with an EU based FC, the FC is liable to report both sides of the trade.
• Changes to the calculation of the clearing threshold so that it is calculated annually based on data from March, April and May, subject to certain conditions.
• The possibility for the rules around “NFC+” to apply only for the breached asset class.
• The remaining backloading deadline, for trades which were executed or were outstanding on or after 16 August 2012, but which had matured before 12th February 2014, being abandoned.
• Changing the obligation to report Exchange Traded Derivatives so that the clearer is obligated to report it.

The exact form of the changes has been discussed by ESMA, the Commission and the Parliament for some time and can be followed via this previous post.  The report being discussed by ECON can be found here and proposes to amend the original proposal by the European Commission. The right hand column shows the changes to the Commission proposed text.