ESMA has outlined a new direction for EU transaction reporting. Its latest recommendations present a practical roadmap towards a more streamlined and integrated reporting framework. Here is 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 market participants to provide feedback on ways to streamline reporting across MiFIR, EMIR and SFTR.
Following extensive engagement with industry stakeholders, ESMA published its Final Report on 2 July 2026, setting out its preferred approach together with a practical roadmap for implementation.
Rather than focusing only on reducing reporting obligations, ESMA has proposed a blueprint for a more integrated, efficient, and data-driven reporting environment.
The Future of Transaction Reporting
ESMA’s preferred long-term solution, Option 2a, proposes a fully integrated reporting framework across MiFIR, EMIR and SFTR.
The aim is simple: replace fragmented reporting requirements with a framework that allows information to be submitted once and reused where appropriate, reducing duplication while maintaining the quality and usefulness of regulatory data.
Importantly, simplification does not mean reducing regulatory oversight. Instead, it focuses on enhancing consistency, enabling increased automation, and improving reporting efficiency for both firms and regulators.
Immediate Benefits, Long-Term Transformation
Recognising that full implementation will require time, ESMA has also proposed a set of short- and medium-term measures designed to reduce operational pressures while supporting the transition to long-term reform.
These measures include:
- Removing or deprioritising reporting fields that have limited supervisory value.
- Expanding delegated reporting arrangements.
- Enhancing consistency across reporting requirements.
- Simplifying reporting processes while maintaining strong data quality standards.
Together, these initiatives demonstrate ESMA’s commitment to delivering tangible benefits ahead of the implementation of its longer-term reforms.
Towards a More Integrated Reporting Environment
One of the most significant proposals is the move towards a single reporting channel, replacing today’s fragmented reporting landscape with a more unified and efficient framework.
For firms, potential benefits include:
- Reduced duplication across reporting regimes.
- More streamlined reporting processes.
- Common reporting standards and harmonised data definitions.
- Increased automation and straight-through processing.
- Improved regulatory data quality.
- Lower operational complexity and reporting costs.
Ultimately, the objective is to simplify reporting for firms while ensuring supervisors continue to receive consistent, high-quality information.
A Clear Implementation Roadmap
Unlike the original Call for Evidence, the Final Report provides an indicative roadmap for implementation.
Subject to the required Level 1 legislative changes, ESMA envisages:
- Mid-2028: Establishment of governance arrangements to support implementation.
- Mid-2029: Completion of the integrated Level 2 reporting template.
- H2 2031: Delivery of the integrated reporting model, allowing approximately 12 to 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 beyond consultation and towards a structured implementation plan.
Looking Ahead
ESMA’s Final Report represents an important milestone in the development of EU transaction reporting.
By combining measures that reduce current reporting burdens with a clear long-term vision, ESMA has provided firms with greater certainty regarding the future direction of regulatory reporting.
For firms, the message is clear: now is the time to optimise reporting processes, strengthen data governance frameworks, and prepare for a more efficient, technology-enabled reporting environment.
How MAP FinTech Can Help
As the regulatory reporting landscape continues to evolve, firms require technology solutions that not only address today’s requirements but are also built to adapt to future regulatory developments.
MAP FinTech, Complyport’s award-winning RegTech platform, helps firms simplify regulatory reporting through a centralised solution 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 changing regulatory requirements.
ESMA’s vision of greater harmonisation, reusable data and more integrated reporting closely aligns with the principles upon which MAP FinTech has been developed. By consolidating reporting activities within a single scalable platform, firms can enhance operational resilience today while preparing for the future of EU transaction reporting.
Whether your organisation is seeking to optimise existing reporting processes or prepare for the next generation of reporting requirements, MAP FinTech combines Complyport’s deep regulatory expertise with proven RegTech capabilities to support your compliance objectives.
Discover how MAP FinTech can help simplify your regulatory reporting operations and strengthen control across the reporting lifecycle.
Contact our team to arrange a demo.