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Firms subject to EMIR must continue transaction reporting

The Financial Conduct Authority (FCA) has updated its transactin reporting webpage to remind firms that following the start of the Regulation on OTC derivative transactions, central counterparties and trade repositories (known as EMIR) reporting to trade repositories on 12 February 2014, their transaction reporting obligations remain unchanged and they are expected to continue transaction reporting as per current arrangements.  

The FCA explains that reporting to trade repositories under EMIR does not replace any transaction reporting obligation and firms should continue to submit their transaction reports using an Approved Reporting Mechanism in accordance with chapter 17 of the Supervision sourcebook.  

Related link:

http://www.fca.org.uk/firms/systems-reporting/transaction-reporting

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