ESMA Proposes "Report Once" Framework to Save Financial Industry Up to €1 Billion Annually

According to ESMA's final report published on July 2, 2026, the European Securities and Markets Authority has proposed a consolidated transaction reporting framework called "Report Once" that could save market participants between €250 million and €1 billion annually while reducing recurring reporting costs by 22% to 24%.

The reform consolidates fragmented reporting requirements under MiFIR, EMIR and SFTR into a single modular framework, allowing firms to report transaction data once and reuse it across multiple supervisory mandates. ESMA estimates current annual transaction reporting operating costs at between €1 billion and €4.2 billion, with implementation costs recoverable within three to four years. The proposal includes short-term relief measures pending full legislative implementation of the long-term integrated framework.