The UK’s Financial Conduct Authority together with the Bank of England have opened a consultation on proposed changes to the EMIR reporting regime in the UK. The consultation document can be found here. The consultation closes on 17 February 2022.

The UK’s EMIR regime separated from the EU’s at the beginning of 2021, following the end of the Brexit transitional period. The EU is also in the process of updating its reporting regime as part of the REFIT process(see here), as are other jurisdictions. One objective of such changes is convergence, for example to the use of Common Data Elements (CDE) across reporting regimes worldwide.