On 8 August 2025, the Bank of England (BoE) issued a Policy Statement ‘Amendments to the UK EMIR Trade Repository reporting requirements: August 2025’.

Background

The BoE and the Financial Conduct Authority (FCA) share supervisory responsibilities for the UK European Markets Infrastructure Regulation (UK EMIR) derivatives reporting obligation. The BoE is responsible for the framework for derivatives reporting as it applies to central counterparties. The FCA is responsible for the reporting framework for all other counterparties.

On 6 June 2025, the BoE and the FCA jointly issued a consultation paper setting out minor changes to the UK EMIR reporting regime to make it work more smoothly. The consultation closed on 30 June 2025.

The Policy Statement now published summarises the feedback to the consultation paper and the BoE’s and FCA’s response to them.

Next steps

The implementation date of the final rules has been changed to 26 January 2026 in response to the feedback to the consultation paper. The other elements in the consultation proposals are largely unchanged. The minor changes relate to validation rules and are set out in section 2.4 of the Policy Statement.

The BoE is amending the Bank Standards Instrument: The Technical Standards (EMIR Reporting and Data Quality and Miscellaneous Amendments) Instrument 2023 using its powers under Article 9 of UK EMIR and under section 138P of the Financial Services and Markets Act 2000.

FCA webpage

The FCA has also updated its webpage on the UK EMIR reporting obligation.

The webpage notes that the FCA has also published Handbook Notice 132 alongside final Technical Standards to make minor amendments to the UK EMIR reporting requirements. The amended Technical Standards will be applicable from 26 January 2026. The FCA have also published final UK EMIR Validation Rules and XML schemas to support implementation.