Scheda

ESMA launched a harmonised approach to funds reporting and has set a clear path towards streamlined, more efficient transaction reporting across European markets.

Final Report on the integrated collection of funds’ data: ESMA sets out a strategic move away from fragmented national reporting towards a common EU reporting framework, centred on a common and single reporting template designed to remain proportionate for different fund sizes and investment strategies, while meeting supervisory needs. Next steps on funds reporting include the development of regulatory and implementing technical standards (RTS, ITS), that will be presented next year. After that, the implementation of the new template and the rest of recommendations will be gradually introduced, with the first phase focusing on the integration of reporting under AIMFD and UCITS, and the second phase that would expand the integrated framework to other reporting obligations.

Interim report on the holistic review of transaction reporting: based on the feedback received from more than 100 respondents to the previous call for evidence on transaction reporting simplification, ESMA has identified the main challenges in the current reporting frameworks, and the most promising approaches to overcome them: instrument based and dual-side simplifications and the implementation of a “report once” framework across EMIR, MiFIR and SFTR in the long term.

Considering the need to perform a thorough cost-benefit analysis, the report does not contain policy recommendations yet. As part of the next steps, ESMA will further engage with markets participants, including through an open hearing that will be held on 28 May, before moving forward with final recommendations to be published by mid-year.