FIA has submitted comments to the European Securities and Markets Authority on its proposed reporting framework for clearing activity at recognised third-country central counterparties under EMIR Article 7d.
FIA supports ESMA's approach to limiting new reporting requirements to information not already available through existing supervisory data collections and reporting regimes, including EMIR Article 9 reporting.
FIA asks ESMA to calibrate the new reporting regime such that firms will only be required to report information that is demonstrably necessary, unavailable elsewhere and proportionate to the supervisory benefit, keeping the scope tightly targeted.
Read the full response here.
