From organisational scope, to reporting data sourcing and validation, counterparty and entity identification, and asset class/instrument identification - EMIR Refit requires many updates and non-compliance, incomplete or inaccurate reporting can lead to costly fines.
The European Market Infrastructure Regulation (EMIR) trade reporting impacts all companies involved in the OTC and exchange-traded derivatives trading. The regulation applies in the EU and the UK and has has been in force since Feb 2014. EMIR Refit provides a set of updates to this regulation, proposed by the ESMA which will go live on 30 September 2024.
The practical 1 day course conducted by a senior market practitioner will focus on the changes which are coming as part of the Refit amendments. You will learn about the reporting of transactions and the key updates to reporting fields as well as the changes in counterparty classifications and reporting reconciliation.
The session covers the key challenges encountered by banks, broker dealers, asset managers and hedge funds, key lessons learnt in implementing EMIR and other regulatory trade and transaction reporting, with successful remediation of any issues.
This workshop covers all aspects of EMIR and EMIR Refit regulations, from organisational scope, to reporting data validation, data sourcing, counterparty and entity identification, and asset class/instrument identification - and resulting impact to front, middle and back office processes.
What will you learn
- About the key changes brought up by EMIR Refit from organisational scope, to reporting data validation, data sourcing, counterparty and entity identification, and asset class/instrument identification
- EMIR Refit reporting and clearing threshold classifications are described under various scenarios in the entity, counterparty, and transaction life cycle, along with a series of sample reports simulating different security types and scenarios
- Impact of those changes on front, middle and back office processes
- Key learnings from implementation of EMIR, MIFIR and SFTR to EMIR Refit implementation, benchmarking against peers from the sell-side and buy-side
- Real life industry examples of the best practices, post-implementation issues, and successful remediation
- Regulatory guidance from the FCA, CSSF, CBI, ESMA and other local regulators - Impact of Brexit to UK EMIR Refit reporting
- The key challenges encountered by banks, broker dealers, asset managers and hedge funds, key lessons learnt in implementing EMIR and other regulatory trade and transaction reporting, with successful remediation of any issues
- Understand the key impacts to US, EMEA and APAC institutions in scope, and the new regulatory reporting landscape
Course Content
- EMIR Refit background and scope of the changes
- Key concepts including entity and counterparty types, new thresholds, reportable instruments and more
- Analysing various EMIR Refit reporting scenarios
- Detailed look at reporting fields
- Systems , controls and horizon scanning
- Inter transaction reporting reconciliation with MiFID and SFTR
Speakers
The trainer is an industry advisor and regulatory expert with over 20 years of experience in investment banking, asset management regulations and Regulatory Technology (RegTech). He is an industry expert in Financial Regulation, RegTech and Open Banking and covers all the key banking and finance regulations across US, EMEA and APAC including MIFID II, EMIR, CASS, SFTR, IFR/IFD, Dodd Frank, FINMA (SIX), HKMA MAS and SFC, IBOR Transitions, SMCR, and ESG Regulations such as SFDR.
He combines experience in strategic regulatory technology with processes and platform management incorporating risk and governance policies.
His recent key engagements include banks such as HSBC, Deutsche Bank, JP Morgan and Barclays and buy side firms such as T. Rowe Price, Ruffer, M&G and Investec Asset Management, to name a few. He is also a member and advisor of industry association committees for regulatory consultations with bodies such as ESMA, FCA, PRA/Bank of England and SEC.
Kalyan is a highly experienced and result-driven regulatory reporting SME with 20 years of experience in regulatory reporting. Kalyan has achieved regulatory compliance and strengthened reporting for firms such as LGIM, Schroders, Fidelity, PWC, Lloyds Banking Group and Barclays Investment Bank.
Kalyan has extensive experience delivering compliance for capital markets regulations like MiFID II, EMIR, SFTR, AIFMD, SMCR within the Asset Management and Investment Banking. Kalyan has worked at management consultancy firm PWC and advised clients on various regulatory aspects including Regulatory Reporting, Suitability and Appropriateness, Product Governance and remediation. He has worked with senior stakeholders include CFO, COO, Head of compliance, Head of Operations, Head of Product and internal and external legal councils. Kalyan has represented firms in various trade bodies and industry associations like IA, ICMA etc., and has performed in-house and external trainings for various firms.
Who Should Attend
From banks, asset management, broker dealers, hedge funds and other market participants affected by the EMIR Refit, Heads of:
- Trading
- Investment
- Portfolio Management
- Operations and Business Risk
- Regulatory Reporting
- Compliance
- HR
