The Malta Financial Services Authority has issued a circular titled: Circular on Regulation No 648/2012 (‘EMIR’) and Regulation No 2015/2365 (‘SFTR’) – Final Report on the simplification and harmonisation of fees to Trade Repositories under EMIR and SFTR.
As per the Circular issued by the Authority on 09 June 2021, ESMA issued a Reply Form to the Consultation Paper on the simplification and harmonisation of ESMA's fee regulations applicable to Trade Repositories under EMIR and SFTR. ESMA has now issued the Final Report on the abovementioned subject.
The objective of this Final Report is to assess the feedback received from the aforementioned Consultation Paper. The Final Report contains ten sections, including inter alia (1) a description of the background of the proposals; (2) the relevant ESMA's budgeting models and expected costs; (3) the general approach to fee determination; and (4) supervisory fees.
ESMA is submitting this Final Report with its technical advice to the European Commission, and it expects the European Commission to amend the Delegated Regulations on fees for TRs, in line with the Commission's request for a technical advice.