The UK Financial Conduct Authority (FCA) has published a reminder for derivative market participants to update their outstanding derivative reports to comply with the amended reporting requirements introduced in February 2023. The UK amended its reporting requirements under the UK European Market Infrastructure Regulation. The changes took effect on 30 September 2024, subject to a transitional period which ends on 31 March. The FCA states that firms should review their reporting arrangements to ensure that they have taken the required steps to amend their outstanding derivative reports ahead of 31 March. The FCA encourages firms that do not believe that they will be able to comply to proactively engage with the regulator regarding their circumstances.
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