FAQs
      Back to home
      1. Knowledge Base
      2. Repository - ESMA EMIR
      3. FAQs

      Do I need to inform my NCA when I have reporting issues?

      Notifications to NCAs of errors and omissions in reporting

      Scope

      1. reporting obstacles, e.g. IT incidents, preventing the report submitting entity from sending reports to TR within the reporting deadline;
      2. misreporting caused by flaws in the reporting systems that would affect a significant number of reports;
      3. any significant issue resulting in reporting errors that would not cause rejection by a TR in accordance with the validation rules published by ESMA, e.g. reporting incorrect notionals.

      What is included in the report?

      Notification should clearly explain all the necessary information about the type of the error or omission, the date of occurrence, scope of the affected reports, reasons for the errors or omissions, steps taken to resolve the issue and the timeline for resolution of the issue and corrections.