Reporting of Intra-Group Transactions - FMA Österreich
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Reporting of Intra-Group Transactions

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Notification for exemption from the reporting obligation of intragroup transactions

Following the amendment of Article 9(1) EMIR in Regulation (EU) 2019/834, effective as of 17 June 2019, it is now possible to request an exemption from the reporting obligation for intragroup contracts, provided that certain conditions are met.

This possibility applies to contracts in which at least one counterparty is a non-financial counterparty (NFC), or would be considered as one if it were established in the European Union, provided that

a) both counterparties are included in the same consolidation on a full basis;

b) both counterparties are subject to appropriate centralised risk evaluation, measurement and control procedures; and

c) the parent undertaking is not a financial counterparty.

Counterparties shall notify their competent authorities of their intention to apply the exemption referred to in Article 9(1) EMIR. The exemption shall be valid unless the notified competent authorities do not agree upon fulfilment of the conditions of Article 9(1) EMIR within three months of the date of notification.

The online FMA IGT Tool shall be used to notify the Austrian FMA of the intention to use the exemption to report intragroup transactions. To register for an FMA IGT Tool account, a duly signed declaration shall be submitted. More details can be found in the IGT Manual

A fee of EUR 2,000.00 will be charged for the verification of such a notification pursuant to 2. Teil 2. Abschnitt TP III.G.9 of FMA Gebührenverordnung.

Guidelines for the notification about the reporting exemption to the FMA

Counterparties shall share information on the applicant entity, the parent undertaking, the group company responsible for centralised risk management, and the organisational structure in the notification form. Applicant companies shall also confirm compliance with the prerequisites for a reporting exemption pursuant to Article 9(1) EMIR.

The notification form shall be uploaded in the online FMA IGT Tool as attachment „(1A) General notification form“. Additional details and relevant documents may be added as attachments „(1C) Organisational Chart“, „(2A1) Annex centralised risk management procedures“, „(2A2) Annex Senior management“, or „(2A3) Annex Transparent communication mechanisms“ in the FMA IGT Tool.

IGT counterparty pairs

Information uploaded in this document shall include details such as the name, LEI, address, country of residence, and national competent authority for each group entity for which an application for reporting exemption is submitted. The attachment shall to be uploaded as csv file in the relevant “Data transmission” section of the FMA IGT Tool. More information on required documents can be found in the IGT Manual.

More Information

Law

European Market Infrastructure Regulation, EMIR

Regulation (EU) 2019/834 (EMIR 2.1)

Information

FMA IGT Tool

IGT Manual

Declaration

Notification form

IGT counterparty pairs