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Why should I start worrying about EMIR Refit 3.0?
Journal of Securities Operations & Custody,
15
(1),
6-13
(2023)
Abstract
The industry is expecting that the European Market Infrastructure Regulation Refit Technical Standards for Transaction Reporting (EMIR Refit 3.0) will be published shortly, but past regulatory implementations indicate that there are practical steps that could already be considered in preparation to be operationally ready and compliant. EMIR Refit 3.0 constitutes a significant number of changes for the industry, using past experiences this paper looks at some of the key challenges of EMIR Refit 3.0 as written in the draft regulation and what firms could consider as part of the planning phase of the programme to get a head start. Initiating the programme early on, frontloading operational readiness and considering the client journey are themes that are explored further for practical application.
Keywords: EMIR Refit; EMIR; planning; operational readiness; regulatory reporting; transaction reporting
The full article is available to subscribers to the journal.
Author's Biography
Melanie Bristow has nearly 15 years' experience in investment banking with the majority of the time dedicated to delivering complex cross product and cross jurisdictional regulatory change. Melanie has a BCom Honours in Risk Management from North West University, Potchefstroom.
Sinead Stringer worked in investment bank front office environments for more than 20 years, before moving into programme management. She has a Masters from LSE in Behavioural Science and utilises this expertise to provide enhanced project and programme management deliveries in regulatory change, operational resilience, client engagement and culture change.
Rachel Hewitt has worked within the regulatory transaction reporting space for over 10 years in various roles covering regulatory change, client service and compliance.
