Our CEO and Founder, Laurent-Olivier Labeis (Leo), recently provided his thoughts to Compliance Corylated on the European Securities and Markets Authority (ESMA)’s support for a “report once” approach to transaction reporting.
By creating a single integrated framework across MiFID, EMIR and SFTR, firms would only have to submit transaction data once.
As Leo points out, SFTR highlighted the limitations of a model built on “duplicated interpretation and reconciliation rather than shared understanding”.
Moreover, through the increased adoption of common data models like the Common Domain Model (CDM) and digital regulatory reporting (DRR), the foundation is already there.
The challenge now is to make “report once” work in practice, improving data quality and reducing operational burden without losing the detail supervisors need.
Find ESMA’s report here: https://www.esma.europa.eu/press-news/esma-news/esma-advances-simplification-eu-reporting-frameworks-funds-and-transactions
And read Leo’s comments in full here: https://www.compliancecorylated.com/news/esma-recommends-report-once-for-transaction-reporting-simplification/