Corporates held up as start of Emir reporting looms

The race to report

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At an industry event in London last month, an executive at one trade repository recalled his conversation with a corporate treasurer in August 2012, after the completion of the European Market Infrastructure Regulation (Emir) set the continent’s derivatives users on the road to mandatory reporting of listed and over-the-counter trades. “What’s the fine for non-compliance?” asked the treasurer, prompting the executive to admit he did not know. “Well, come back to