ESMA progresses streamlined reporting efforts with call for evidence, discussion paper and final reports

The European Securities and Markets Authority (ESMA) has launched a call for evidence (CfE) as part of its Data Strategy to gather feedback on how to simplify and streamline supervisory reporting. The aim is to reduce the operational burden and costs associated with financial transaction reporting, particularly under MiFIR, EMIR and SFTR, while maintaining transparency and regulatory oversight. ESMA is exploring two potential approaches in the CfE: (i) eliminating overlaps within existing reporting requirements without changing current reporting channels and data collection infrastructure; or (ii) creating a unified reporting template for all instruments currently in-scope of EMIR, SFTR and MiFIR reporting (and potentially other reporting requirements) and adopt the "report once" principle.

The deadline for responses to the CfE is 19 September, with a final report expected to be published in early 2026. ESMA also published final reports summarising feedback from its consultations on RTS 22 on transaction data reporting and RTS 24 on order book data and RTS 23 on supply of reference data. No changes will be proposed to the current reporting frameworks while the supervisory reporting consultation is ongoing. The broader MiFIR Review will continue as planned.

In parallel, ESMA has also published a separate discussion paper and accompanying press release, seeking feedback on how to improve efficiency, consistency and effectiveness of supervisory reporting within the asset management sector, in particular with respect to AIFMD and UCITS Directive requirements. The deadline for comments on the discussion paper is 21 September, with the final report expected to be published in April 2026.

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