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The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, published today the fifth edition of its Report on the Quality and Use of Data. The report reveals how the regulatory data collected has been used by authorities in the EU and provides insight on actions taken to ensure data quality.
The document presents concrete cases on data use ranging from market monitoring to supervision, enforcement and policy making. A recent example includes how ESMA reutilises existing data to support reporting burden reduction (i.e. use of MIFIR transaction data to perform the transparency and volume cap calculations).
The report highlights ESMA's Data Platform and ongoing improvements to data quality frameworks as key advancements in tools and technology for data quality.
In addition, it contains other advances as:
- the data quality developments for datasets as the EMIR REFIT go-live,
- the successful outcome of a newly implemented data quality framework on short-selling data,
- the implementation of first steps in improving the accessibility and use of ESEF data by NCAs.
This edition also gives an overview of the sanctions imposed by the NCAs on reporting obligations, showcasing another tool that can be used as part of their supervisory and enforcement toolkit.
Next Steps
A webinar to present the report in detail will be held on 15 May from 11:00 -12:00 CET. To attend, please register here.
