LUX CSSF New EMIR Reporting

On Dec. 1, LUX CSSF issued circular on new ESMA EMIR guidelines.

  • LUX CSSF issued cir CSSF 23/846 on the application of ESMA new EMIR guidelines.
  • Follows ESMA Dec. 2022, issued guidelines/technical documentation, see #157256.
  • Main Points
  • All entities in scope must comply with ESMA74-362-2281 due to LUX CSSF compliance.
  • Guidelines clarified the transition to reporting under the new rules; the number of reportable derivatives; and issues on exemption from intragroup derivatives reporting.
  • Delegation of reporting and allocation of responsibility for reporting; reporting logic and reporting fields; reporting of different types of derivatives; ensuring data quality.
  • Construction of the trade state report, reconciliation of derivatives and data access.
  • The circular shall apply to financial and non-financial counterparties to derivatives.
  • Effectiveness
  • The ESMA guidelines will be entering into force on Apr. 29, 2024.
  • In Mar. 2024, LUX CSSF issued reminder on EMIR REFIT reporting, see #206193.

Regulators LUX CSSF
Entity Types B/D; Depo; Exch; OTC
Reference Cir CSSF 23/846; PR, 12/1/2023; Gd ESMA74-362-2281; EMIR Reg 648/2012; EMIR Refit Reg 2019/834; RTS 2022/1855; RTS 2022/185
Functions Compliance; Financial; Legal; Operations; Registration/Licensing; Reporting; Risk; Trade Reporting; Treasury
Countries Luxembourg
Products Derivatives; Securities
Regions EMEA
Rule Type Final
Rule Date 12/1/2023
Effective Date 4/29/2024
Rule Id 193507
Linked to Rule :157256
Reg. Last Update 12/1/2023
Report Section EU

Last substantive update on 12/06/2023