European Securities and Markets Authority launches call for evidence on streamlining supervisory reporting and pauses MiFIR reporting RTS changes

The European Securities and Markets Authority has launched a call for evidence on how to simplify, better integrate and streamline supervisory reporting under its Data Strategy, aiming to reduce reporting costs while maintaining transparency and effective oversight. In parallel, ESMA is putting on hold any proposed changes to MiFIR transaction, order and reference data reporting rules while it consults and analyses feedback. The call for evidence points to recurring industry concerns including overlapping reporting obligations across regimes such as MiFIR, EMIR and SFTR, duplicative reporting channels, and the burden created by frequent and unsynchronised regulatory changes. ESMA sets out two potential simplification approaches for feedback: removing overlaps while keeping existing reporting channels, or replacing multiple frameworks with a unified template based on a “report once” principle. During this period, ESMA will not pursue changes to MiFIR RTS 22, RTS 24 and RTS 23 and will instead publish final reports summarising responses to earlier consultations on the review of MiFIR transaction, order book and reference data reporting, while the rest of the MiFIR Review proceeds as planned. Submissions are due by 19 September, alongside targeted engagement with stakeholder groups on practical implementation challenges and the main drivers of reporting costs. ESMA plans to publish a final report by the beginning of 2026 identifying key cost drivers and setting out the proposed way forward.