EU-EMIR Refit reporting rules have been live for less than a month; what are the lessons learnt? This session will give initial views on how the industry faired with the major overhaul in reporting requirements, areas that may require further attention, and what is next for EU-EMIR.

The industry must also focus on the UK-EMIR Refit deliverables coming into force on 30 September. Some elements of EU-EMIR can be carried over, but there are several differences the industry must be preparing for. Panellists will also review some of the longer-term challenges ISDA and the industry continue to work through to improve reporting efficiency and standardization.

Amongst the core objectives of the reporting rewrites taking place globally is the aim to improve cross-jurisdictional harmonisation and provide regulators with great transparency. The adoption of global standards such as the UPI, UTI and CDE fields will help achieve some of these ambitions. There will also be increased expectations for market participants to report to ever higher standards of data quality and accuracy. This panel will review what these data quality expectations could mean to firms, the potential implications of submitting poor data, and some of the challenges the industry have been working through, particularly regarding areas such as global standards.

Rewrite, with ASIC, MAS and UK-EMIR Refit rules due for completion in line with trade repository UAT dates. Several firms have integrated DRR into their reporting processes.

Now that EMIR Refit reporting has gone live, the panel will discuss the way regulatory rules are interpreted, expressed and updated into DRR, where DRR sits within the reporting ecosystem, and expansion of development and use of DRR for other jurisdictions. Longer-term, what are the opportunities and benefits that panelists envision can be achieved for both market participants and regulators by using digital regulatory solutions?