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FCA Transaction Reporting Instrument Reference Data Errors and Omissions Form Now Available

On January 11, the UK Financial Conduct Authority (FCA) updated its webpage on instrument reference data to make available a new instrument reference data errors and omissions form for trading venues or systematic internalizers (SIs) to complete if their instrument reference data is incomplete or inaccurate.

Delegated Regulation (EU) 2017/585, supplements the Markets in Financial Instruments Regulation (MiFIR) in relation to data standards and formats for financial instrument reference data, and technical measures in relation to arrangements to be made by the European Securities and Markets Authority (ESMA) and competent authorities. Under the Delegated Regulation, where a trading venue or SI detects that submitted instrument reference data is incomplete or inaccurate, it must promptly notify its competent authority.

In the new form, the FCA advises trading venues and SIs to submit the new form by email to the FCA’s Markets Reporting Team as soon as possible. The FCA also reminds firms that the ESMA’s question and answer documents (Q&As) on Markets in Financial Instruments Directive (MiFID) data reporting set out expectations on reporting instrument reference data.

The new form should help the FCA ensure that it is provided with the necessary information for the purposes of handling errors or omissions in instrument reference data.

The FCA’s webpage is available here.

The FCA’s new form is available here.

The Delegated Regulation is available here.

ESMA’s Q&As on MiFIR Data Reporting are available here.

©2019 Katten Muchin Rosenman LLP


About this Author

Carolyn H. Jackson, International Attorney, Katten Muchin law firm

Carolyn Jackson is a partner in Katten Muchin Rosenman UK LLP and is a Registered Foreign Lawyer. She provides US financial regulatory legal advice to a broad range of market participants, including commercial banks, investment banks, investment managers, broker-dealers, electronic trading platforms, clearinghouses, trade associations and over-the-counter derivatives service providers.

Carolyn guides clients in the structuring and offering of complex securities, commodities and derivatives transactions and in complying with US securities and commodities laws...

+44 0 20 7776 7625
Nathaniel Lalone, Katten Muchin Law Firm, Financial Institutions Attorney
Senior Associate

Nathaniel Lalone, a partner at Katten Muchin Rosenman UK LLP, has a broad range of experience in the regulation of financial products and financial markets, and frequently provides regulatory and compliance advice to trading venues, clearing houses and buy-side firms active in the over-the-counter (OTC) derivatives, futures and securities markets. He is actively involved in advising clients on the implementation of MiFID 2 and MiFIR in the European Union as well as the international reach of US financial services regulation. He also has significant experience with structuring and documentation relating to OTC derivatives and structured products.

Prior to joining Katten, Nathaniel was a member of the US Regulatory and the Derivatives and Structured Finance practices at Allen & Overy LLP.

+44 0 20 7776 7629
Neil Robson, private equity fund managers counselor, Katten Law Firm, London

Neil Robson, a regulatory and compliance partner with Katten Muchin Rosenman LLP, focuses his practice on counseling hedge and private equity fund managers and other investment advisers on operational, regulatory and compliance issues. He regularly addresses Financial Conduct Authority (FCA) and EU authorization and compliance under both the EU Alternative Investment Fund Managers Directive (AIFM Directive) and MiFID, cross-border issues in the financial services sector, market abuse, anti-money laundering and regulatory capital requirements, formations and buyouts of...