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Under the revised REMIT Regulation (EU) No. 1227/2011, market participants based or residing in a third country who engage in transactions reportable to ACER under Article 8(1) are required to appoint a representative in an EU Member State.
Key Requirements
- The representative must be established in the same Member State where the market participant is active.
- Market participant should verify if he already registered for REMIT purposes in that Member State.
- If the market participant is not already registered in the Member State where their representative is located, they must register or change the registration to the Member State where they have designated their representative.
Providing Contact Information
The contact details of the appointed representative (name, email address, postal address, and phone number) must be submitted to both ACER and the national regulatory authority (NRA) of the respective Member State.
Deadlines and Process
- The deadline for appointing a representative is November 8, 2024.
- The appointment and registration of the representative are managed via the CEREMP system.
- In some Member States (e.g., Italy, Romania, Slovenia), market participants must notify the NRA directly, which also serves as a notification to ACER.
Scenarios of MPs registration and their representatives in Member Stets
More information: 25.09.2024_3rd_Open-Letter-Third-Countries_PPAETs.pdf