EU reporting revamp may end up costing banks
Esma’s review into trade reporting promised to cut reporting burden and save firms money. Dealers aren’t convinced.
Dealers have voiced fears that attempts to roll up several of the European Union’s trade reporting obligations into one could come with a hefty bill, wiping out any potential savings.
The European Securities and Markets Authority is assessing industry feedback on ways to streamline the reporting of trade information to regulators, following a three-month consultation period which ended last week
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