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.