Under the new requirements any European Economic Area (EEA) firms - including any branches located in nonEEA countries - trading securities financing transactions (SFTs) will have to report the daily transaction, valuation, collateral, reinvestment, funding and collateral re-use information to an approved trade repository. SFTs include repo, securities or commodities lending and borrowing, buysell-back and sell-buy-back transactions, and margin lending transactions. Recent penalties from regulators for non-compliance with EMIR and MiFIR transaction reporting requirements make it clear that the market is struggling to implement a robust transaction reporting solution. So what can firms do to protect themselves? In this paper, SS&C details five common mistakes which result in risk of non-compliance, and must be avoided.