ESMA - Final Report on the simplification of transaction reporting
ESMA published its final report on the simplification of transaction reporting, setting out a clear path towards a ‘Report Once’ approach. ESMA recommends a staged approach combining short-term burden reduction with a long-term structural reform. At the core of this strategy is the development of a single integrated transaction reporting framework across MiFIR, EMIR and SFTR, based on a “report once” principle.
Next steps: following the publication of the Final Report, ESMA will engage with EU institutions on the proposed recommendations. The implementation of the integrated “report once” approach will require targeted legislative changes, a phased implementation and an inclusive dialogue with industry technical experts, allowing for coordinated development of reporting templates, data standards and streamlined infrastructure.
