Significant streamlining of EMIR reporting requirements necessary

In a consultation by the European Securities and Markets Authority (ESMA) on reporting in the financial sector, Deutsche Aktieninstitut has spoken out in favour of a consistent reduction in the bureaucracy involved in reporting requirements. We advocate completely abolishing the reporting of intra-group transactions. At the very least, the process that allows non-financial companies to be exempt from reporting should be easy to manage. Currently, this exemption requires an application to be submitted to the supervisory authority of the parent company and the supervisory authority of the subsidiary.