The FCA’s latest Market Watch 84 reviews how firms have adapted one year after the UK EMIR Refit came into force. While the regulator notes broad progress in transitioning to the updated reporting regime, it highlights ongoing gaps in data quality, governance, and oversight, particularly around reliance on third-party reporting providers and the treatment of reporting errors. The FCA reiterates that firms remain fully accountable for the completeness and accuracy of their EMIR reports, and that proactive issue management and transparent engagement with the regulator are essential.
