Esma blames repositories for OTC reporting delay
Esma unable to approve repositories for new regime because applications are incomplete, regulator says
Would-be trade repositories have been blamed for a six-week delay in Europe's new over-the-counter derivatives reporting regime, quietly confirmed today by the European Securities and Markets Authority (Esma).
Under the terms of the European Market Infrastructure Regulation (Emir), repositories must be approved by Esma, but a spokesman for the authority says applications were incomplete, forcing Esma to go back and ask for more information.
"We cannot start assessing it in legal terms if it's
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