The European Securities and Markets Authority has published an updated version of its Q&A on the implementation of the European Market Infrastructure Regulation. The updated Q&A includes a new answer in relation to transition to the revised technical standards on reporting, which will become applicable on 1 November 2017. The Q&A clarifies that the reporting entities are not obliged to update all the outstanding trades upon the application date of the revised technical standards and that they are required to submit the reports related to the old outstanding trades only when a reportable event takes place. Furthermore, the Q&A explains how those reports will be validated by the trade repositories.
View ESMA updates Q&A on EMIR implementation, 2 February 2017