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🔗 Back to Summary. 🇫🇷 French Version: 2022R1860_FR.9. Back to Summary of LVL1. Open the PDF. Direct link to EUR-LEX.
Article 8 – Reporting LEI changes and update of identification code to LEI ⬅️ | ➡️ Article 10 – The date by which derivative contracts are to be reported
Article 9 - Methods and arrangements for reporting
1.
The entity responsible for reporting shall notify its competent authority and, if different, the competent authority of the reporting counterparty of any of the following instances:
(a)
any misreporting caused by flaws in the reporting systems that would affect a significant number of reports;
(b)
any reporting obstacle preventing the report submitting entity from sending reports to a trade repository within the deadline referred to in 2012;
(c)
any significant issue resulting in reporting errors that would not cause rejection by a trade repository in accordance with Commission Delegated Regulation (EU) 2022/1858. The entity responsible for reporting shall promptly notify any of those instances, as soon as it becomes aware of them.
The notification shall indicate at least the type of the error or omission, the date of the occurrence, scope of the affected reports, reasons for the errors or omissions, steps taken to resolve the issue and the timeline for resolution of the issue and corrections.
2.
Where a financial counterparty is solely responsible and legally liable for reporting of the details of OTC derivative contracts on behalf of a non-financial counterparty pursuant to Article 9(1a) of Regulation (EU) No 648/2012, it shall put in place the following arrangements:
(a)
arrangements for the timely provision by the non-financial counterparty of the following details of the OTC derivative contracts that the financial counterparty cannot be reasonably expected to possess and where those are unknown by that financial counterparty:
(i)
broker ID, as referred to in the field 15 in Table 1 of the Annex;
(ii)
clearing member, as referred to in the field 16 in Table 1 of the Annex;
(iii)
directly linked to commercial activity or treasury financing, as referred to in the field 20 in Table 1 of the Annex;
(b)
arrangements for timely information by the non-financial counterparty to the financial counterparty of any change in its legal obligations pursuant to 2012;
(c)
arrangements for duly renewal by the non-financial counterparty of its LEI in accordance with the terms of any of the accredited Local Operating Units of the Global LEI System;
(d)
arrangements for timely notification by the non-financial counterparty to the financial counterparty of its decision to start or to cease reporting the details of OTC derivative contracts concluded with the financial counterparty. Such arrangements shall at least ensure that the notification is done in writing or by other equivalent electronic means at least 10 working days before the date on which the non-financial counterparty wants to start or to cease reporting.
3.
The counterparties, the entities responsible for reporting and the report submitting entities, as applicable, shall have in place arrangements which ensure that the feedback on the reconciliation failures provided pursuant to Article 3 of Delegated Regulation (EU) 2022/1858 is taken into account.