EMIR and MiFIR require regulated firms to submit transaction reports to a registered Trade Repository (TR) and their National Competent Authorities (NCAs), either directly or via an Approved Reporting Mechanism (ARM), respectively
Despite these obligations having been around for some time, several firms are still failing to report accurate information.
The FCA has incorporated data quality reviews into its supervisory programme by conducting desk-based analyses and on-site inspections of counterparties. Moreover, the FCA repeatedly highlighted the importance of firms having systems and controls in place to ensure their transaction reports are complete and accurate.
With over 20 years of experience in governance, risk and compliance in the UK’s and EU’s financial services industry, Complyport’s multidisciplinary consulting team can:
- Offer advice on policies, controls and procedures relevant to transaction and trade reporting;
- Provide tailored rectification measures best suited for each firm’s modus operandi;
- Update your compliance monitoring programme;
- Train staff members on issues related to MiFIR and EMIR;
- Offer customised health-check reviews to ensure compliance with MiFIR and EMIR;
- Provide answers to queries (Q&A service);
- Assist with structuring and carrying out proper reconciliations;
- Help you notify to the FCA reporting errors and omissions and setup an adequate remediation plan;
- Devise and recommend tailored and practical solutions, and;
- Help you, via our affiliated regulatory reporting technology provider MAP FinTech, automate the reporting required under EMIR and MiFIR.