Corporates held up as start of Emir reporting looms

The race to report

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 me when it’s greater than the