On March 14, ISDA responded to the European Commission’s ‘Fitness Check’ of supervisory reporting requirements with several key recommendations, including:

• A ‘report once/permission access to data once’ regime: firms would produce a single dataset which the relevant regulators could cut to suit their particular regulatory objectives;
• Alignment of reporting rules across jurisdictions – including continued ISDA advocacy for single-sided reporting globally; and
• Supporting global harmonisation of the unique transaction identifier, unique product identifier and critical data elements of OTC derivatives reported to trade repositories.

Click on the link below for the full response.