Delegated Reporting Agreement Emir

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Delegated Reporting Agreement Emir

If your EMIR rating changes from NFC to NFC+ (non-financial counterparty subject to the clearing obligation), you are responsible and responsible for reporting OTC derivatives, but such reporting may continue to be delegated to Nordea if there is a reporting agreement (voluntary delegation). It is therefore important to inform Nordea of any changes to your EMIR classification. The same applies if your classification changes from NFC+ to NFC. There is also an additional period of 180 days from the start date of the declaration, which applies to the reporting of assessment and safety data; although this information is in no way notified by the NFC-s. In this context, the MRRA sets common conditions for the mandatory and delegated reporting of derivatives transactions under EMIR, consistent with the amendments introduced through EMIR Refit and with SECURITIES financing transactions under the ASR. The agreement was also designed to ensure that these conditions will remain effective after Brexit. The MRRA and a rationale for the architecture and background of the MRRA are available here. EMIR does not specifically concern contracts concluded after 16 August 2012 but which have not yet been concluded by the reference date, and the market considered that such contracts should therefore be notified from the reference date. . . .

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