The MRRA establishes common conditions for mandatory and delegated reporting of S&C transactions under AFTR and for derivatives transactions reported under EMIR and aims to simplify the communication of these different EU regulatory systems. The MRRA establishes common conditions for the mandatory and delegated reporting of derivatives transactions under EMIR, which are consistent with the amendments introduced through EMIR Refit and with CORPORATE finance transactions under the ASR. The agreement was also designed to ensure that these conditions will remain effective after Brexit. ISLA has partnered with FIA, ICMA and ISDA to create a new master information agreement. .