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Over half of finance professionals not ready for EMIR reporting next week, claims Reval poll 

February 10, 2014
Neil Ainger, Bobsguide

With the 12 February deadline for the start of trade reporting under the European Market Infrastructure Regulation (EMIR) fast approaching, 65% of respondents to a recent Reval webinar poll of 300 finance professionals said they expect the European Commission (EC) to provide corporates with “a relief mechanism”. Over half (58%) said they wouldn’t be ready for the start of EMIR reporting next week.

Respondents to the Reval webinar poll held on 28 January are perhaps expecting an EMIR reporting compliance delay, as has recently happened with the single euro payments area (SEPA) harmonisation project, giving treasurers more time, but there is no guarantee this will happen. Other aspects of the EMIR rules are due to come into effect later in the year but the commencement of trade repositories and reporting obligations is the immediate deadline facing financial market participants. 

Read more: Bobsguide


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