One of the most significant announcements from ESMA this year is not about introducing new reporting requirements, but about
simplifying the reporting process.
In its recently published Final Report, ESMA estimated that simplifying EU transaction reporting could generate
up to €1 billion in annual savings for market participants.
Among the key recommendations are:
- reducing duplicated reporting obligations across regulatory frameworks
- promoting the "Report Once" principle, which would allow data to be reused across reporting regimes
- improving data sharing between competent authorities
- harmonising reporting requirements and technical standards
- reducing operational complexity while maintaining supervisory effectiveness.
For firms reporting under EMIR, SFTR and MiFIR, these changes represent more than just a cost-saving initiative. It signals a strategic shift in how regulatory reporting may evolve over the coming years, moving from multiple parallel reporting streams towards a more integrated reporting ecosystem.
Although the proposals require further legislative work and cooperation between EU institutions, they clearly indicate the direction of travel:
less duplication, better data and more efficient reporting.
At KDPW TR+, we will continue to monitor these developments and share our insights into what they could mean for reporting firms across Europe.
Source: ESMA –
ESMA identifies up to €1 billion in potential annual savings from simplifying EU transaction reporting
