A stricter future
EMIR Refit presents an opportunity for firms to automate data processes and prepare for upcoming regulations, with recent fines underscoring the urgency of compliance amid stricter enforcement.
By future-proofing their control and data processes, companies can enhance their reputation and leverage regulatory standardization, while those clinging to outdated systems risk penalties and competitive disadvantages. Gresham supports global financial services firms in maintaining their market edge by helping them adapt to these new requirements and stay ahead of regulatory changes.
A proactive approach
As EMIR Refit raises regulatory standards, firms must proactively enhance reporting practices. Buy-side firms should regularly align timelines with sell-side counterparts, while the sell-side conducts thorough testing of data and reporting ahead of the new regime.
Setting the tone
The FCA’s Digital Regulatory Reporting (DRR) and ICMA’s Common Domain Model (CDM) offer solutions to streamline reporting standards. Adopting CDM ensures standardised reporting, better data quality, and compliance. Leveraging DRR enables automated, machine-readable rules, reducing operational risks and enhancing transparency.
Reducing the risk of costly fines
While EMIR Refit poses challenges for both buy- and sell-side firms, Gresham’s Control Cloud Regulatory solution offers an immediate solution, automating reporting, reducing the risk of penalty costs, and improving overall regulatory reporting efficiency.
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Resetting the future of the EU and UK markets with EMIR Refit
Advancing regulatory reporting capabilities in Europe
