On 28 January 2021, the European Securities and Markets Authority (ESMA) updated its Q&As on practical questions regarding reporting issues under the European Markets Infrastructure Regulation (EMIR). ESMA has updated Q&A3b to explain how to report the direction of derivatives in specific cases that are described. ESMA has also added a new Q&A for trade repositories in order to clarify the steps to be taken for the due termination of derivatives when the reporting counterparty ceases to exist. It also specifies how to deal with non-terminated reports of inactive (dissolved) counterparties to ensure that accurate information is provided to the authorities.