ESMA has set a new direction for EU transaction reporting. Its latest recommendations provide a practical roadmap towards a simpler, more integrated reporting framework. Here’s what it means for firms.
On 23 June 2025, the European Securities and Markets Authority (ESMA) launched its Call for Evidence on simplifying financial transaction reporting, inviting industry feedback on streamlining reporting across MiFIR, EMIR and SFTR.
Following extensive industry engagement, ESMA published its Final Report on 2 July 2026, setting out its preferred approach and a practical roadmap for implementation.
Rather than focusing solely on reducing reporting burdens, ESMA has outlined a blueprint for a more integrated, efficient and data-driven reporting ecosystem.
The Future of Transaction Reporting
ESMA’s preferred long-term solution, Option 2a, proposes a fully integrated reporting model across MiFIR, EMIR and SFTR.
The objective is straightforward: replace fragmented reporting processes with a framework that enables information to be submitted once and reused wherever appropriate, reducing duplication while preserving the quality and value of regulatory data.
Importantly, simplification is not about reducing regulatory oversight. It is about improving consistency, enabling greater automation and making reporting more efficient for firms and supervisors alike.
Immediate Relief, Long-Term Reform
Recognising that full implementation will take time, ESMA has also proposed a package of short- and medium-term measures designed to reduce operational burden while laying the foundations for long-term reform.
These include:
- Removing or deprioritising reporting fields with limited supervisory value.
- Expanding delegated reporting arrangements.
- Improving consistency across reporting requirements.
- Simplifying reporting processes while maintaining robust data quality.
Together, these measures demonstrate ESMA’s commitment to delivering practical benefits ahead of the longer-term reforms.
A More Integrated Reporting Landscape
Perhaps the most significant proposal is the move towards a single reporting channel, replacing today’s fragmented reporting landscape with a more integrated and efficient model.
For firms, the benefits include:
- Reduced duplication across reporting regimes.
- Simpler reporting processes.
- Common reporting standards and consistent data definitions.
- Greater automation and straight-through processing.
- Higher-quality regulatory data.
- Lower operational complexity and reporting costs.
Ultimately, the objective is to make reporting simpler for firms while ensuring supervisors continue to receive consistent, high-quality information.
A Clear Roadmap
Unlike the original Call for Evidence, the Final Report sets out an indicative implementation roadmap.
Subject to the necessary Level 1 legislative changes, ESMA envisages:
- Mid-2028 – Governance arrangements established to support implementation.
- Mid-2029 – Completion of the integrated Level 2 reporting template.
- H2 2031 – Delivery of the integrated reporting model, allowing approximately 12–18 months for firms to prepare.
While these milestones remain dependent on the legislative process, they provide the clearest indication yet that ESMA has moved from consultation to a structured implementation roadmap.
Looking Ahead
ESMA’s Final Report marks an important milestone in the evolution of EU transaction reporting.
By combining immediate burden reduction measures with a clear long-term vision, ESMA has provided firms with greater certainty about the future direction of reporting.
For firms, the message is clear: now is the time to streamline reporting processes, strengthen data governance and prepare for a more efficient, technology-enabled reporting environment.
How Complyport Can Help
As the regulatory reporting landscape continues to evolve, firms need technology that not only meets today’s requirements but is also designed to adapt to tomorrow’s regulatory changes.
Complyport, through its award-winning RegTech platform, MAP FinTech, helps firms simplify regulatory reporting by providing a centralised platform that supports multiple reporting regimes and jurisdictions. MAP FinTech validates, enriches, transforms and routes data to regulators, Trade Repositories and Approved Reporting Mechanisms (ARMs), helping firms improve data quality, reduce operational complexity and respond efficiently to evolving regulatory requirements.
ESMA’s vision of greater harmonisation, reusable data and more integrated reporting closely aligns with the principles on which MAP FinTech has been built. By consolidating reporting processes within a single, scalable platform, firms can strengthen operational resilience today while preparing for the future of EU transaction reporting.
Whether you are looking to optimise existing reporting processes or prepare for the next generation of reporting requirements, Complyport combines deep regulatory expertise with proven RegTech solutions to support your compliance journey.
If you have any questions about ESMA’s proposed reforms or the future of the EU transaction reporting framework, please contact our team.
