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The Commission de Surveillance du Secteur Financier (CSSF) recently highlighted the most common rejection reasons when reporting under Article 9 of EMIR and has provided a number of recommended controls. Having analysed the rejection reports received between the entry into force of EMIR REFIT reporting and 31 December 2024, the CSSF has identified the most frequent types of errors and encourages entities to consider the following practices when reporting their derivatives to their respective Trade Repositories: ⚡ A derivative report must include the action type ‘New’ or ‘Position Component’ for a derivative that has not previously been reported. ⚡ A derivative or margin report with action type other than ‘New’ or ‘Position Component’ relates to an already reported derivative. ⚡ A derivative or margin report shall not attempt to modify any immutable fields of a previously reported transaction. For example, a derivative report shall not attempt to modify the details of fields ‘Counterparty 1’, ‘Counterparty 2’ or ‘UTI’. ⚡ A derivative or margin report has a valid ‘Reporting Timestamp’ completed with a timestamp on or after 29 April 2024. The ‘Reporting Timestamp’ shall be consistent with the date of reception of the report by the TR. ⚡ A derivative or margin report has an ‘Event date’ that is equal or prior to its ‘Reporting Timestamp’. For all action type except ‘Revive’, the ‘Event date’ shall be prior to or equal to the ‘Expiration Date’, and if populated, the ‘Early Termination Date’ of the report. ⚡ For a derivative report that has been reported as cancelled with action type ‘Error’, the subsequent report shall be a report with action type ‘Revive’. A derivative report with a different action type value than ‘Revive’ will be rejected by TR. Read the full article from the CSSF here: https://lnkd.in/enPn-mAu #ControlNow #RegTech #TransactionReporting #RegTech2025 #RegulatoryReporting #FinancialReporting #FinancialServices #DerivativeMarkets #DataGovernance #EMIRREFIT

We're delighted to have been shortlisted for not one, not two but THREE awards at this year's RegTech Insights Awards Europe. 🎉 🏆 Best Regulatory Reporting Solution (3) 🏆 Best Regulatory Data Solution (4) 🏆 Best Solution for EMIR Reporting (5) We're on a mission to simplify transaction reporting and being shortlisted for these awards confirms we're on the right track and making a difference. Please spare a couple of minutes and vote for us - https://lnkd.in/envSRyv8 Thank you and keep your fingers crossed! 🤞🏻🤞🏾 #ControlNow #RegTech #TransactionReporting #RegTech2025 #RegulatoryReporting #FinancialReporting #FinancialServices #DerivativeMarkets #DataGovernance #EMIRREFIT #RegTechAwards #VoteNow

Last call to join our webinar tomorrow, the first of 2025. 📢 During this webinar, we'll be focussed on the recent discussion paper, DP24/2, issued by the Financial Conduct Authority (FCA) and discussing the key ideas and themes contained within. We've already had A LOT of interest which means this is a fascinating topic and a webinar well worth registering for - if you're involved in transaction reporting under MiFiD/MiFIR, this is for you! Webinar details: 📍 Online via Zoom 📅 Thursday, 13th February 🕛 10:00 - 11:00 (UK Time) If you're involved in transaction reporting under MiFiD/MiFIR - this webinar is for you! Learn more and register here - https://lnkd.in/e2Dx3FZc #ControlNow #RegTech #TransactionReporting #RTS22 #RegulatoryReporting #FinancialReporting #FinancialServices #DerivativeMarkets #DataGovernance #EMIRREFIT #MiFIR #MiFID #MiFIDII #MiFIDIII #WebinarWednesday #RegisterNow

We're pleased to reveal our first webinar of 2025, focussed on the recent discussion paper, DP24/2, issued by the Financial Conduct Authority (FCA). 📢 During the webinar, we'll cover: ⚡ A summary of the proposed changes and how they'll impact reporting obligations ⚡ Divergence between FCA and ESMA on RTS 22 requirements ⚡ What you can do to provide feedback to the FCA before the cut off date ⚡ A Q&A session with our experts and a chance to ask any questions Webinar details: 📍 Online via Zoom 📅 Thursday, 13th February 🕛 10:00 - 11:00 (UK Time) If you're involved in transaction reporting under MiFiD/MiFIR - this webinar is for you! Learn more and register here - https://lnkd.in/e2Dx3FZc #ControlNow #RegTech #TransactionReporting #RTS22 #RegulatoryReporting #FinancialReporting #FinancialServices #DerivativeMarkets #DataGovernance #EMIRREFIT #MiFIR #MiFID #MiFIDII #MiFIDIII

Some interesting news today as the Financial Conduct Authority has issued its first fine for transaction reporting failures under MiFIR. 📢 The fine comes after Infinox Capital failed to submit 46,053 transaction reports for CFD trades between 2022 and 2023 resulting in a £99,200 fine administered by the FCA. Although the fine isn't the largest - the reputational impact could cause lasting damage. It could also be an indication that the FCA is now cracking down on reporting failures meaning those who have yet to sort their reporting should look to do so as soon as possible. Ultimately this all starts with the data - accuracy and completeness are key. By using an automated and transparent solution, you guarantee timely compliance - if you'd like to see what this looks like, speak to us! Read the full FCA press release - https://lnkd.in/de96GFde #ControlNow #RegTech #TransactionReporting #RegulatoryReporting #FinancialReporting #FinancialServices #DerivativeMarkets #DataGovernance #EMIRREFIT #MiFIR #MiFID #MiFIDII #MiFIDIII

DYK: Under MiFIR, firms can report directly to the regulator without the need for an ARM (Approved Reporting Mechanism)? 🤔 What's more... this can be done entirely through TR Direct, our cutting-edge tool that allows firms to send transaction reporting data straight to the endpoint - no intermediaries here! ⚡ Bypass the ARM by managing direct reporting independently, reducing dependency on third parties ⚡ Automate reporting workflows to ensure accuracy, efficiency and compliance with MiFIR / MiFID II regulations ⚡ Gain full control over your data and reporting processes, enhancing transparency and security ⚡ Stay ahead of regulatory changes with a platform that adapts to evolving requirements If the idea of taking control of your transaction reporting sounds good, why not schedule a demo? https://lnkd.in/efiT3Wj9 #ControlNow #RegTech #TransactionReporting #RegulatoryReporting #FinancialReporting #FinancialServices #DerivativeMarkets #DataGovernance #EMIRREFIT #MiFIR #MiFID #MiFIDII #MiFIDIII #DirectReport

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ICYMI: The Financial Conduct Authority is hosting a UK MiFID Transaction Reporting Forum on 22nd January 2025 in London. 📢 The aim of the forum is to provide clarity on the proposals set out in DP24/2 and gather views on the practical implications of any changes to the existing regime. Forum details: 📆 22nd January, 2025 🕛 13:30 - 16:30 UK Time 📌 FCA, London, E20 1JN For more information and to register - https://lnkd.in/gpsrFmW8 #ControlNow #RegTech #TransactionReporting #RegulatoryReporting #FinancialReporting #FinancialServices #DerivativeMarkets #DataGovernance #EMIRREFIT #MiFID #MiFIDII #MiFIDIII