MiFIR Transaction Reporting

Transaction reporting is a highly complex area that many firms struggle to fully understand and successfully implement, as has been demonstrated by a number of high profile enforcement cases.

Contact us
/en/services/financial-services-compliance-and-regulation/uk-compliance-services/mifir-transaction-reporting /-/media/feature/services/financial-services-compliance-and-regulation/mifir-transaction-reporting-desktop-banner.jpg service

Transaction Reporting is a highly complex area that many firms struggle to fully understand and successfully implement, as demonstrated over the years by a number of high profile enforcement cases. Transaction Reports are primarily used by the Regulator in the detection of Market Abuse and therefore it is important that reports are accurate and complete.

Fines for transaction reporting failures lead to reputational damage and potentially costly reviews in the form of s166 Skilled Persons reports. We have also seen many firms and their senior management being required to sign attestation letters issued by the FCA concerning the accuracy and completeness of their transaction reports.

MiFIR Trade Reporting

The purpose of MiFIR trade reporting is to promote transparency in trading venues and OTC markets and to support fair price discovery and liquidity through the timely provision of information to the market. Deferral of publication is permitted for certain instruments and transactions meeting particular criteria.

How Kroll Can Help

If you are facing regulatory action or require some independent and expert assurance that your current transaction reporting and/or trade reporting arrangements meet the required standards, Kroll can offer expert reviews and assurance to manage your potential regulatory risk. Our transaction reporting specialists have over 20 years’ experience of working in the FCA’s Markets Reporting Team (MRT) (formerly Transaction Monitoring Unit (TMU)), combined with extensive experience of working within financial firms and providing consulting services to investment banks, brokers, platform providers, asset managers, approved reporting mechanisms (ARMs), exchanges, multilateral trading facilities (MTFs) and organized trading facilities (OTFs).

Whether you are a smaller firm looking for a subject matter expert or a global institution looking for assistance with reporting your complex derivatives, our specialist staff can help you. We tailor our approach to the trading activities and processes of our clients.

Our services include:

  • One off or annual assurance reviews

  • Assisting firms and senior management when signing a transaction reporting attestation letter to the regulator

  • Deep-dive reviews and regulatory investigations

  • Preparing for visits from regulators in relation to transaction reporting

  • Managing or assisting with transaction reporting remediation and back reporting programs

  • Capturing and documenting the reporting requirements specific to your trading scenarios and product mapping across all systems

  • Documentation (policies, operational procedures and reporting logic)

  • Independent data accuracy testing of all instruments, scenarios and data fields

  • Preparing and delivering technical, regulatory and operational staff training across departments

Connect with us
Connect with us
Zach Johnson is a director at Duff & Phelps.
Zach Johnson
Financial Services Compliance and Regulation
Nick Bayley
Nick Bayley
Managing Director
Financial Services Compliance and Regulation

See all servicesStay Ahead with Kroll


Valuation of businesses, assets and alternative investments for financial reporting, tax and other purposes.

Compliance and Regulation

End-to-end governance, advisory and monitorship solutions to detect, mitigate and remediate operational security, legal, compliance and regulatory risk.

Corporate Finance and Restructuring

Comprehensive investment banking, corporate finance, restructuring and insolvency services to investors, asset managers, companies and lenders.

Cyber Risk

Incident response, digital forensics, breach notification, managed detection services, penetration testing, cyber assessments and advisory.

Environmental, Social and Governance

Advisory and technology solutions, including policies and procedures, screening and due diligence, disclosures and reporting and investigations, value creation, and monitoring.

Investigations and Disputes

World-wide expert services and tech-enabled advisory through all stages of diligence, forensic investigation, litigation and testimony.

Business Services

Expert provider of complex administrative solutions for capital events globally. Our services include claims and noticing administration, debt restructuring and liability management services, agency and trustee services and more.

See all insightsExplore insights

Global Enforcement of Anti-Money Laundering Regulation: Shift in Focus

Mar 17, 2022

by Monique MelisMaria EvstropovaKen C. Joseph, Esq.Hannah RossiterAlan KeatingMalin NilssonAaron  Weiss


MiFID II Transaction Reporting Services Case Studies

Sep 06, 2021 - Kroll is a leading advisor in providing practical and proportionate MiFID II/MiFIR transaction reporting solutions for the financial services industry.


UK Regulatory Calendar 2021

Mar 30, 2021

by Ian MansonMonique Melis


UK Regulatory Calendar 2020

Feb 20, 2020

by Ian Manson