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Q&As on REMIT – Question III.2.32.

In cases where data reporting under Article 6, 8 and 9 of Commission Implementing Regulation (EU) No 1348/2014 is delegated to a third party, who is responsible for the completeness, accuracy or timely submission of data: the person required to report the data or the third party reporting on the person’s behalf?


Answer:

In accordance with Article 11(2) of Commission Implementing Regulation (EU) No 1348/2014, if a person required to report data, reports those data through a third party, the person shall not be responsible for failures in the completeness, accuracy or timely submission of the data that are attributable to the third party. If the failure in data reporting is attributable to a third party e.g. if the third party reports corrupted/incorrect data or data are reported with a delay, the third party will be responsible for that failure. If the failure is attributable to a person required to report the data e.g. the person provides incorrect data, or data with a delay to a third party, then the person required to report the data will be responsible for that failure. Responsibility for the failure in data reporting cannot be transferred by the data reporting agreement between persons required to report data and the third parties reporting data on their behalf.

From the Agency’s point of view, in cases where an organised market place (OMP) has outsourced reporting to another RRM, the notion of ‘person required to report data’ in Article 11(2) of Commission Implementing Regulation (EU) No 1348/2014 includes the OMP itself. Otherwise there would be a missing link in the reporting chain and it would not be possible to ensure data quality.

Last update: 30/11/2015   RSS_Icon Subscribe to this Page’s RSS