Updated 22/12/2024
In force

Version from: 07/10/2022
Amendments
ESMA74-362-2281
Published: 23/10/2023
Art. 9(1), 9(2)
ESMA74/362/2281
Published: 14/12/2022
Art. 9(1), 9(2)
ESMA74/362/1893
Published: 08/07/2021
Art. 9(2), 9(1)
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EMIR ToolImplementing Regulation 2022/1860
Article 9

Article 9 - Methods and arrangements for reporting

Article 9

Methods and arrangements for reporting

1.  

The entity responsible for reporting shall notify its competent authority and, if different, the competent authority of the reporting counterparty of any of the following instances:

(a) 

any misreporting caused by flaws in the reporting systems that would affect a significant number of reports;

(b) 

any reporting obstacle preventing the report submitting entity from sending reports to a trade repository within the deadline referred to in Article 9(1) of Regulation (EU) No 648/2012;

(c) 

any significant issue resulting in reporting errors that would not cause rejection by a trade repository in accordance with Commission Delegated Regulation (EU) 2022/1858 ( 2 ).

The entity responsible for reporting shall promptly notify any of those instances, as soon as it becomes aware of them.

The notification shall indicate at least the type of the error or omission, the date of the occurrence, scope of the affected reports, reasons for the errors or omissions, steps taken to resolve the issue and the timeline for resolution of the issue and corrections.

2.  

Where a financial counterparty is solely responsible and legally liable for reporting of the details of OTC derivative contracts on behalf of a non-financial counterparty pursuant to Article 9(1a) of Regulation (EU) No 648/2012, it shall put in place the following arrangements:

(a) 

arrangements for the timely provision by the non-financial counterparty of the following details of the OTC derivative contracts that the financial counterparty cannot be reasonably expected to possess and where those are unknown by that financial counterparty:

(i) 

broker ID, as referred to in the field 15 in Table 1 of the Annex;

(ii) 

clearing member, as referred to in the field 16 in Table 1 of the Annex;

(iii) 

directly linked to commercial activity or treasury financing, as referred to in the field 20 in Table 1 of the Annex;

(b) 

arrangements for timely information by the non-financial counterparty to the financial counterparty of any change in its legal obligations pursuant to Article 10(1) of Regulation (EU) No 648/2012;

(c) 

arrangements for duly renewal by the non-financial counterparty of its LEI in accordance with the terms of any of the accredited Local Operating Units of the Global LEI System;

(d) 

arrangements for timely notification by the non-financial counterparty to the financial counterparty of its decision to start or to cease reporting the details of OTC derivative contracts concluded with the financial counterparty. Such arrangements shall at least ensure that the notification is done in writing or by other equivalent electronic means at least 10 working days before the date on which the non-financial counterparty wants to start or to cease reporting.

3.  
The counterparties, the entities responsible for reporting and the report submitting entities, as applicable, shall have in place arrangements which ensure that the feedback on the reconciliation failures provided pursuant to Article 3 of Delegated Regulation (EU) 2022/1858 is taken into account.

( 2 ) Commission Delegated Regulation (EU) 2022/1858 of 10 June 2022 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards specifying the procedures for the reconciliation of data between trade repositories and the procedures to be applied by the trade repository to verify the compliance by the reporting counterparty or submitting entity with the reporting requirements and to verify the completeness and correctness of the data reported (See page 46 of this Official Journal).