ESMA issued an updated version of its Q&A (ESMA/2014/682) on the implementation of EMIR (the Regulation on over-the-counter (OTC) derivatives, central counterparties (CCPs) and trade repositories (TRs)) (Regulation 648/2012). The latest Q&As provide answers to frequently asked questions mostly in relation to the population of specific fields relating to reporting of data on exposures (i.e. collateral and valuations). The reporting start date for such data is 11 August 2014, which means that the first counterparties reports are due no later than the end of 12 August 2014. The updated Q&As also cover how to report contracts with no maturity date, notional amount field, OTC derivatives novations and the issue of backloading. Helpfully, the updated Q&A identifies questions and answers have been added or updated as at 23 June 2014 (as well as which Article(s) in EMIR is involved).