Consultant Avid Handler blogged about Deutsche Bank being fined £4.7m by the UK’s Financial Conduct Authority and what it might mean for the energy industry, which now reports some trades under EMIR. The bank was fined for misreporting, erroneously, equity CFD trades under MiFID for several years.
So do energy companies need to worry about the quality of their trade reporting under EMIR? Handler’s basic message is that while there is no need to panic as regulators will allow for some slack when reporting trades because EMIR is still new, energy companies still need to incrementally improve how they comply with regulations such as EMIR. Read his post in full here.