On 13 June 2018, the European Securities and Markets Authority (ESMA) issued its first annual report regarding supervisory measures carried out and penalties imposed by Member State competent authorities (NCAs) under the European Market Infrastructure Regulation (EMIR).

The report sheds some light on areas that are highly harmonised, such as the sources of information used by NCAs for the purpose of verifying the compliance of the supervised entities with EMIR provisions. Data from trade repositories is used by 72% of the NCAs to check compliance in relation to the clearing obligation; by 92% of the NCAs for the reporting obligation and by 64% for the risk management procedures of Article 11 of EMIR. Likewise, the majority of the NCAs use concurrently other information directly submitted by the supervised entities: 72% of the NCAs gather data directly from entities to check compliance with both the clearing and reporting obligation, and 76% of the NCAs for EMIR risk mitigation techniques.