Reconciliation requirements threaten delegated reporting
Banks and clients in dispute, ahead of August 12 deadline
Some buy-side firms could find themselves cut off from all delegated reporting services just weeks away from the deadline on collateral and valuation reporting in Europe, as valuation reconciliation becomes a sticking point with sell-side providers.
Many banks set up delegated reporting to help clients with the burden of trade reporting, which was introduced in Europe on February 12 through the European Market Infrastructure Regulation (Emir). The new rules also require that from August 12
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