The European Securities and Markets Authority (ESMA) has, for the first time, taken enforcement action against a trade repository registered in the European Union: see here and here (pdf). The action, against DTCC Derivatives Repository Ltd for breach of the obligation to ensure immediate access for regulators to data reported under Regulation (EC) No 648/2012 in OTC derivatives, central counterparties and trade repositories (EMIR), was taken within Articles 64(5), 65, 67 and 73 of EMIR. For further information about ESMA's role in supervising trade repositories, see here.
Tuesday, 5 April 2016
Europe: ESMA fines trade repository for EMIR data access breaches
The European Securities and Markets Authority (ESMA) has, for the first time, taken enforcement action against a trade repository registered in the European Union: see here and here (pdf). The action, against DTCC Derivatives Repository Ltd for breach of the obligation to ensure immediate access for regulators to data reported under Regulation (EC) No 648/2012 in OTC derivatives, central counterparties and trade repositories (EMIR), was taken within Articles 64(5), 65, 67 and 73 of EMIR. For further information about ESMA's role in supervising trade repositories, see here.
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