With reporting under EMIR having been in place for around six months, the FCA has undertaken an EMIR review to find out how industry dealt with the new obligations. It also took the opportunity to assess how the industry had prepared for the start of the collateral and valuation reporting which came in on 11 August (see Regulatory Roundup 56).
A short summary appears on the FCA website.
The Regulator comments that the “vast majority” of derivative contracts are being reported and found that “the majority of reporting to be correct and successful” – some identified issues are included in the summary.
The summary can be accessed by way of the provided link. There are also links to the most recent EMIR-related Q&As issued by the FCA and by ESMA.