TR Question 20b: Reporting to TRs: Validations of EMIR reports
Article 9 of EMIR - Reporting to TRs: TRs validations of EMIR reports
How are TRs expected to verify completeness and accuracy of the reports submitted by the reporting entities?
TR Answer 20b
TRs should apply validation rules to ensure that reporting is performed according to the EMIR regime, including the specifications of the Technical Standards. Accordingly, reporting counterparties or submitting entities should comply with the reporting requirements specified in the Validation table which can be found on ESMA’s website at the following link: https://www.esma.europa.eu/sites/default/files/library/esma70-145-63_emir_validation_rules_for_revised_rts_its.xlsx
Given the Commission Delegated Regulation (EU) No 148/2013 (RTS on reporting to TR) and Commission Implementing Regulation No 1247/2012 (ITS on reporting to TR) the validation criteria have been updated. These updates apply from 1 November 2017.
In order to be compliant with the requirements of Article 19 of the Commission Delegated Regulation (EU) 150/2013, TRs should reject the reports which are not submitted in line with the reporting requirements specified in the Validations table.