No immediate sanctions for trade reporting failures, says FCA
The UK's financial markets regulator has indicated that firms failing to comply with European Union transaction reporting rules are unlikely to face fines immediately after they kick in on February 12, in recognition of the challenges the industry faces to get ready on time.
The Financial Conduct Authority (FCA) will be responsible for enforcing that UK trading firms report over-the-counter derivatives trades to nominated trade repositories, under the European Market Infrastructure Regulation
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