Kaizen hosts FCA and industry specialists at Ready, Steady…Refit!

We were delighted to host more than 120 clients and industry experts at Merchant Taylor’s Hall, London on 14 September 2023 for an afternoon of discussion and information sharing on all things EMIR Refit.

Speakers included Carmel Deenmamode, Market Conduct & Post Trade Policy Manager at the FCA as well as representatives from the Investment Association, FIA, LSEG Post-Trade, ISDA, DTCC, HSBC and our very own EMIR Reporting Director, Tim Hartley.

The panel discussions focused on the go-live of EMIR Refit in both the UK and EU and how market participants can best prepare for the changes ahead, including how to navigate the nuances between the UK and EU regimes. 

An insightful audience Q&A session covered the main pain points and queries that firms are still facing, such as:

  • What should reporting firms do when counterparties do not or cannot agree on consistent reporting fields for matching?
  • Will the UK publish similar guidance to ESMA’s Guidance and Q&As for EMIR Refit?
  • What is the UK’s general approach to publishing guidelines and documentation?
  • Will there be a new errors and omissions process in the UK for EMIR Refit?
  • Can firms apply their EU processes to their UK reporting to judge the quality of their submissions, for example using EU calculations for materiality?
  • How do reporting entities and their clients identify errors and what’s causing the errors when they’re using delegated reporting?

We address some of these questions and more in our guide: How to Navigate UK and EU EMIR Refit Reporting Changes

A huge thank you to our speakers and all our attendees! 

  • If you would like to learn more about our ‘Ready, Steady…Refit’ event or how our EMIR Refit Toolkit can help you prepare, please get in touch.