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Version date: 17 December 2020 - onwards

8 Data access by authorities (paras. 645-664)

645. In the Consultation Paper, ESMA indicated that EMIR REFIT has aligned the legal requirements regarding terms and conditions for granting access to data under EMIR and SFTR. This aspect addressed a long-standing issue related to the data access to individual TRs. Some of the TRs put in place contractual documentation and in certain occasions this led to undue delays or even impossibility of access to data by some authorities who were prohibited from signing legal agreements with any type of supervised entities. The co-legislators thus included in EMIR, similarly to what was already in place under SFTR, a particular provision for ESMA to develop the terms and conditions for granting access to data, as well as the arrangement and the required documentation.