pc
nid 93707
Jul 02, 2026
adavies@vixio.com
European Union
European Securities and Markets Authority
financial services
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2192 charsEuropean Securities and Markets Authority Publishes Final Report on Simplifying EU Transaction Reporting
On July 2, 2026, the European Securities and Markets Authority (ESMA) published its final report on the simplification of transaction reporting, outlining recommendations to reduce costs and complexity across EU financial markets. The report identifies potential annual savings of up to €1 billion for market participants through the implementation of a "Report Once" approach to transaction reporting.
ESMA's analysis identifies fragmentation, duplication, and inconsistent requirements as primary cost drivers. The authority recommends a staged approach combining immediate burden reduction measures with long-term structural reform. At the core of this strategy is the development of a single integrated transaction reporting framework across the Markets in Financial Instruments Regulation (MiFIR), European Market Infrastructure Regulation (EMIR), and Securities Financing Transactions Regulation (SFTR), based on a "report once" principle. This integrated model would allow transaction data to be reported once through a common modular structure, with data then reused across authorities and supervisory mandates, reducing duplication while preserving information needed for effective supervision.
ESMA's comprehensive cost-benefit analysis indicates the proposed "report once" scenario could deliver annual net savings of €250 million to €1 billion, a reduction in recurring costs of 22 to 24 percent, and 10-year discounted cumulative net benefits of €1.2 billion to €4.9 billion. Implementation costs are expected to be recovered within three to four years. Alongside long-term reform, ESMA proposes intermediate measures including expanding delegated reporting arrangements, streamlining intragroup exemption procedures, and targeted adjustments to reduce low-value or duplicative reporting requirements.
Following publication of the final report, ESMA will engage with EU institutions on the proposed recommendations. Implementation of the integrated approach will require targeted legislative changes, phased implementation, and inclusive dialogue with industry technical experts to coordinate development of reporting templates, data standards, and streamlined infrastructure.
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2193 charsEuropean Securities and Markets Authority Publishes Final Report on Simplifying EU Transaction Reporting
On July 2, 2026, the European Securities and Markets Authority (ESMA) published its final report on the simplification of transaction reporting, outlining recommendations to reduce costs and complexity across EU financial markets.
The report identifies potential annual savings of up to €1bn for market participants through the implementation of a "Report Once" approach to transaction reporting. ESMA's analysis identifies fragmentation, duplication, and inconsistent requirements as primary cost drivers. The authority recommends a staged approach combining immediate burden reduction measures with long-term structural reform.
At the core of this strategy is the development of a single integrated transaction reporting framework across Regulation (EU) No 600/2014 (Markets in Financial Instruments Regulation – MiFIR), Regulation (EU) No 648/2012 (European Market Infrastructure Regulation – EMIR), and Regulation (EU) 2015/2365 (Securities Financing Transactions Regulation – SFTR), based on a "report once" principle. This integrated model would allow transaction data to be reported once through a common modular structure, with data then reused across authorities and supervisory mandates, reducing duplication while preserving information needed for effective supervision. ESMA's comprehensive cost-benefit analysis indicates the proposed "report once" scenario could deliver annual net savings of €250 million to €1 billion, a reduction in recurring costs of 22 to 24 percent, and 10-year discounted cumulative net benefits of €1.2 billion to €4.9 billion.
Alongside long-term reform, ESMA proposes intermediate measures including expanding delegated reporting arrangements, streamlining intragroup exemption procedures, and targeted adjustments to reduce low-value or duplicative reporting requirements.
Following publication of the final report, ESMA will engage with EU institutions on the proposed recommendations. Implementation of the integrated approach will require targeted legislative changes, phased implementation, and inclusive dialogue with industry technical experts to coordinate development of reporting templates, data standards, and streamlined infrastructure.