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# ESMA Q\&A 2776 — Q\&A — AAR representativeness obligation \[Answer Published]

*Answer Published · ESMA publication · Checked against the ESMA publication on 11 Oct 2026 ·* [*Official source*](https://www.esma.europa.eu/publications-data/questions-answers/2776)

|                         |                                                                               |
| ----------------------- | ----------------------------------------------------------------------------- |
| **Full title**          | ESMA Q\&A 2776 — Q\&A — AAR representativeness obligation \[Answer Published] |
| **Issuer**              | ESMA                                                                          |
| **Reference**           | ESMA\_QA\_2776                                                                |
| **Document type**       | Q\&A                                                                          |
| **Date**                | published 16/02/2026; answer 27-02-2026                                       |
| **Addressees**          | Not recorded                                                                  |
| **Legal basis**         | Article 7a                                                                    |
| **Related instruments** | None recorded                                                                 |
| **Text on this page**   | Word for word — the full text of the ESMA publication                         |

**AAR representativeness obligation**

#### Question

Are counterparties immediately relieved from the representativeness obligation, including reporting, when they no longer meet the EUR 6 billion threshold set out under Article 7a(4) of EMIR?

***

#### Answer

The representativeness obligation, including reporting, ceases to apply as soon as a counterparty no longer meets the EUR 6 billion threshold set out under Article 7a(4) of EMIR.

However, to enable NCAs to verify compliance, a counterparty must still submit the reporting covering the last period during which it was subject to the representativeness obligation.

Counterparties must keep monitoring their positions on a continuous basis against the relevant thresholds.

***