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By Jens SCHMIDT and Clément ROBERT, EY Luxembourg*
EMIR REFIT (EMIR REgulatory FITness Program), the large-scale, mandatory regulatory update to the existing European Market Infrastructure Regulation (EMIR) derivative transaction reporting rules, will soon come into effect on 29 April 2024. With this imminent go-live date, Luxembourg financial and non-financial firms with derivative exposure need to ensure they are compliant with the new reporting rules. The requirements apply irrespective of whether firms report directly to a trade repository or delegate their obligations to a third party.
In June 2022, new standards for EMIR reporting were adopted to enter into force in April 2024. In December 2022, the European Securities and Markets...
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