The European Securities and Markets Authority (ESMA) has published a call for evidence seeking stakeholder input on ways to simplify and streamline financial transaction reporting in the EU. This initiative aims to reduce the regulatory burden on market participants while maintaining robust supervisory oversight.
ESMA highlights that current EU regulations—MiFIR, EMIR, and SFTR—impose overlapping and sometimes inconsistent reporting requirements, leading to significant costs for financial institutions. The document identifies major challenges such as duplicative reporting, inconsistent terminology, frequent regulatory changes, and the need for multiple IT systems. ESMA estimates that the combined annual cost of compliance with these regimes is between EUR 1 and 4 billion for the industry.
Two main options for simplification are proposed: removing duplication in current frameworks, and implementing a “report once” principle using a unified reporting template. Each option is accompanied by sub-options and an analysis of their potential benefits and challenges.
The call for evidence also invites feedback on the use of new technologies, centralisation of reporting, and proportionality measures. Stakeholders are encouraged to submit their comments by 19 September 2025. ESMA plans to publish a final report in early 2026, outlining the preferred approach for regulatory reporting simplification.
The entire report is available here –
Streamlining financial transaction reporting: ESMA calls for input
