Recital 2

(2)Following the entry into force of Regulation (EU) 2019/834 of the European Parliament and of the Council ³ , trade repositories are required to have in place the procedures for the reconciliation of data between trade repositories and procedures to verify the compliance with the reporting requirements by the reporting counterparty or submitting entity and to verify the completeness and correctness of the data reported. To ensure that the European Securities and Markets Authority has the relevant information allowing it to verify that a trade repository complies with those requirements when assessing the application for registration of a trade repository, trade repositories should be required to provide information regarding the procedures they have put in place for the authentication of the identity of the users accessing the data, provision of feedback to relevant entities on the authorization of the report submitting entity, verification of the completeness and correctness of the data, reconciliation and the outcomes of the reconciliation process, for the provision of a warning feedback to submitting entities and for changing legal entity identifiers, in accordance with Commission Delegated Regulation (EU) 2022/1858 ⁴ .