The ERR identifies the entity that will be responsible for notifying its competent authority and if different, the competent authority of the reporting counterparty of any of the following instances, as indicated in Article 9 of the ITS:
- any misreporting caused by flaws in the reporting systems that would affect a significant number of reports;
- any reporting obstacle preventing the report submitting entity from sending reports to a trade repository within the deadline referred to in Article 9(1) of Regulation (EU) No 648/2012;
- any significant issue resulting in reporting errors that would not cause rejection by a trade repository in accordance with Commission Delegated Regulation (EU) 2022/1858
Original Table extracted from the Final Report on the Guidelines for reporting under EMIR
Scenario | Report submitting entity (field 1.2) | Entity responsible for reporting (field 1.3) | Counterparty 1 (field 1.4) | Counterparty 2 (field 1.9) | |
FC reporting on behalf of NFC- in accordance with Article 9(1a) | Leg 1 | FC LEI | FC LEI | FC LEI | NFC- LEI |
Leg 2 | FC LEI | FC LEI | NFC- LEI | FC LEI | |
FC reporting on behalf of NFC- in accordance with Article 9(1a) and FC delegating to RSE | Leg 1 | RSE LEI | FC LEI | FC LEI | NFC- LEI |
Leg 2 | RSE LEI | FC LEI | NFC- LEI | FC LEI | |
NFC- opting out from FC reporting on their behalf in accordance with Article 9(1a) | Leg 1 | FC LEI | FC LEI | FC LEI | NFC- LEI |
Leg 2 | NFC- LEI | NFC- LEI | NFC- LEI | FC LEI | |
NFC- opting out from FC reporting on their behalf in accordance with Article 9(1a) FC delegating to RSE NFC- delegating to RSE2 | Leg 1 | RSE LEI | FC LEI | FC LEI | NFC- LEI |
Leg 2 | RSE2 LEI | NFC- LEI | NFC- LEI | FC LEI | |
NFC+ delegating to FC | Leg 1 | FC LEI | FC LEI | FC LEI | NFC+ LEI |
Leg 2 | FC LEI | NFC+ LEI | NFC+ LEI | FC LEI | |
NFC+ delegating to FC and FC subdelegating to RSE | Leg 1 | RSE LEI | FC LEI | FC LEI | NFC+ LEI |
Leg 2 | RSE LEI | NFC+ LEI | NFC+ LEI | FC LEI | |
NFC+ not delegating to FC | Leg 1 | FC LEI | FC LEI | FC LEI | NFC+ LEI |
Leg 2 | NFC+ LEI | NFC+ LEI | NFC+ LEI | FC LEI | |
Counterparty trading with a natural person not eligible for an LEI delegating to RSE | Leg 1 | RSE LEI | CP 1 LEI | CP 1 LEI | Client code as specified in ITS on reporting for field 1.9 |
No Leg 2 reporting required | |||||
The contract is an ETD | Leg 1 | FC LEI | FC LEI | FC LEI | NFC- LEI |
Leg 2 | NFC- LEI | NFC- LEI | NFC- LEI | FC LEI |