Some EU countries unable to punish Emir breaches
Firms in Poland and Ireland cannot be fined for breaking reporting rules
At least five countries were unable to enforce European Market Infrastructure Regulation (Emir) reporting rules when they were introduced in February, and two of these – Poland and Ireland – still cannot fine companies that breach the regulations, Central Banking sister title Risk.net has learned.
Other countries have updated their rules to allow sanctions to be handed out – Spain did so on June 27 – but non-financial firms that did not comply up to that point are expected to escape punishment
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