ESMA fines DTCC €64K over EMIR Violations in its EU Repository
Posted: Wed Mar 30, 2016 10:24 am
The European Securities and Markets Authority (ESMA) announced today a fine of €65,000 against DTCC Derivatives Repository Limited (DDRL), owned by DTCC, in connection with violations of EMIR rules during a nine-month period and across 2.6 billion reports, according to the agency’s official press release.
The ESMA said that the violations stemmed from negligence in the company failing to put in place data processing systems that were capable of providing regulators with direct and immediate access to the reported data, as well as not informing the ESMA in a timely manner after becoming aware of the issues, and because of taking three ... (read more)