EU swap users still hope for single-sided reporting, one day

Lawmakers fail to deliver Emir reprieve but tease at potential future changes

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When the European Union first revealed plans to cut back unnecessary regulation through its Refit programme in 2015, derivatives users were quietly optimistic that authorities would take the pruning shears to the much-maligned swaps reporting rules.

Four years on from the review, the end result has fallen far short of any meaningful reprieve for users. In fact, some complain that proposed changes to the reporting element of Emir, or the European Market Infrastructure Regulation, are