FCA consults on changes to UK EMIR reporting

The FCA is consulting on draft guidance for reporting under the revised UK EMIR Article 9 reporting requirements. This follows the FCA/BoE joint policy statement which confirmed changes to the derivative reporting framework under UK EMIR.

The guidance FCA is seeking feedback on is intended to support the implementation of the updated UK EMIR reporting requirements that go live on 30 September 2024. The guidance is in the form of Q&A, initially divided into the following topics (further topics will be covered in a separate consultation):

1. Transitional arrangements
2. Reconciliations
3. Errors and omissions
4. Derivative identifiers
5. Action and events

The consultation closes on 28 March 2024 and the FCA will consult on Q&A topics 6-12 later in the spring.