FCA confirms further temporary transaction reporting measures

FCA is implementing further temporary measures for the reporting of certain fields in MiFIR transaction reports.

In January 2022, temporary measures were put in place for the reporting of the short selling indicator under RTS 22. FCA is now created additional temporary measures for the reporting of other fields:

  • Waiver indicator (field 61)
  • OTD post-trade indicator (field 63)
  • Commodity derivative indicator (field 64)
  • Securities financing transaction indicator (field 65)

Until FCA’s reviews of these fields are complete, it will not take action against firms which fail to populate them in accordance with requirements. It also does not expect firms to notify it about issues affecting these fields using errors and omissions notifications forms. FCA will disable certain reporting validation rules from September to ensure that transaction reports are not rejected as a result of a failure to populate these fields correctly.

Laura Wiles