Further to the introduction of the European Market Infrastructure Regulation (EMIR) in 2012 and subsequent revisions in 2015 and 2017, the REFIT program (Regulatory Fitness and Performance Program) was instigated. The purpose of the REFIT for Trade Reporting, which commenced in 2019, has been to review the issues identified in the years since reporting obligations were introduced and to use these findings to enhance the accuracy of Trade Reporting, through improved data quality and industry standardisation.
With the Consumer Duty coming into force on 31st July it is important for impacted firms to not see this as the finishing line, but rather the start of a continuous process to support and enhance customer outcomes.
A summary of the main points from the final negotiation of this key regulation resulting from the Financial Crisis of 2007-08.
A brief exploration of some of the challenges to implementing the Fundamental Review of the Trading Book (FRTB).