ACER yesterday issued updates to several key documents relating to REMIT. These are:
- Trade Reporting User Manual (TRUM) version 4.0 (here) – Amalgamates many of the answers found in the Transaction Reporting FAQ document and also adds other changes.
- New Annex VII of the TRUM (here) – covering the reporting of life-cycle events.
- Updated Transaction Reporting FAQ (here) – with additions and alignment with other documents.
- Updated REMIT Questions and Answers (here) – This primarily covers inside information in a series of answers relating to both disclosure requirements under Article 4 as well as the insider trading and improper disclosure prohibition in Article 3. There is also an answer about Physical and Financial Transmission Rights (PTRs and FTRs).
The inside information answers follow the publications of the 5th Edition of the REMIT Guidance (see here) which added a significant section on the definition of inside information. Subscribers to ETR Advisory’s “Regulatory support service” (see here) will receive more detailed notes on all of these changes, and have received extra commentary on the 5th REMIT Guidance.
The press release which accompanies the changes states that:
ACER acknowledges that, because of COVID-19 pandemic, reporting parties may face difficulties in implementing the changes foreseen by the updated guidance by the end of 2020. Nevertheless, reporting parties shall strive to achieve compliance with the transaction reporting guidance to the greatest extent possible.