EMIR Transaction Reporting: the Risk of ‘Out of Sight, Out of Mind’ Reporting
Posted: Sun Feb 28, 2016 9:48 am
This article was written by Chris Dingley, Head of Sales at Abide Financial.
Following a reasonable bedding-in period, CySEC has recently begun the process of enforcing adherence to standards established under EMIR.
The recent communication regarding EMIR obligations on Cypriot regulated entities is a timely reinforcement of regulator ESMA’s position that investment firms must take responsibility for their own reporting and also reminds firms of mandatory clearing and risk reduction techniques. Given that mandatory clearing is yet to apply to FX and that almost all CFD business is conducted over electronic platforms, the major impact for most firms will be in ... (read more)