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EMIR, Mifid, SFTR

Reporting issues in financial regulation and a new master agreement

There have been several revelations recently that many who are obliged to report under MiFID II have been experienced issues with reporting. This article on The Trade News web site reports that a high proportion of market participants receive no feedback from regulators on submissions. The article refers to a study carried out by vendor Cappitech (see here). This article, also on The Trade News, reports that a number of firms have informed regulators of errors in reporting, based on a Freedom of Information request. This article on the Investment week web site reports on the same issue that the FCA is likely to start taking a stricter stance on reporting errors, quoting comments from a Managing Director of Duff & Phelps.

Earlier today, several industry trade associations published a Master Regulatory Reporting Agreement (MRRA), which gives market participants an option to use a single template to help them manage regulatory obligations under EMIR and SFTR related to delegated reporting. Details can be found here on the ISDA web site.

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on the regulation of the commodity, energy and financial markets. He has more than 23 years of experience in the financial, energy and commodity markets, covering regulatory compliance, credit, risk and financial technology. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy and Commodity Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.

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