European Commission Approves Draft Technical Standard for SFTR

After several delays earlier this year, the European Commission has finally approved the draft technical standard (RTS) for SFTR. The European Parliament now have up to six months to scrutinize the legislation, which has been changed from the previous three-month suggestion. That means that the regulation will be published in the official journal by July 1, 2019 at the latest. First in line to start reporting are Credit institutions and Investment firms, which will be one year after the publication, followed by a phased-in approach for other market participants in scope.

The uncertainty around the RTS approval have led many firms to put their SFTR projects on hold and firms may now feel a greater sense of urgency to implement SFTR. If not already begun, firms should immediately start reviewing readiness for SFTR implementation and allocate budget for next year.

To successfully meet the SFTR obligation, it will be particularly important to resolve the data sourcing and reconciliation challenges. As transaction reporting obligations continue to increase with the rollout of SFTR, it is becoming more imperative than ever for firms to take a strategic approach and adopt automated solutions that extend across multiple regulations.

Did you know that there is a 30% overlap between EMIR and SFTR?

Read our white paper on SFTR to learn more about the challenges SFTR bring.


For questions on how we can help, contact Andreas Bergh at +46(0)8 1213 9519 or andreas.bergh@tradechannel.se


Subscribe to CSS Blog

CSS frequently publishes blog posts which are written by our team from their observations in the field, at conferences and through experiences with compliance professionals. These posts are designed to further knowledge and share industry best practices. Topics run the gamut, including Form ADV, cybersecurity, MiFID II, position limit monitoring, technology challenges and more. Complete and submit the brief form below to receive notifications when we publish new content.

Loading form...

Latest Content

Improving Mutual Funds’ Principal Risks Disclosure

The Securities and Exchange Commission (SEC) has for years stressed that registrants’ disclosure in regulatory filings needs to be written in “plain English.” The SEC’s Disclosure Review and Accounting Office recently reiterated the plain English directive in “ADI 2019 – 08 – Improving Principal Risks Disclosure.” The guidance focuses specifically on making disclosure of principal risks … Continued

Cayman Islands Data Protection Law Nears Taking Effect

Cybersecurity regulations have landed ashore on the islands, and life is about to become anything but a beach for firms forced to comply with the Cayman Islands’ new Data Protection Law (DPL), slated to take effect September 30, 2019. With provisions largely mirroring the EU’s General Data Protection Regulation (GDPR), entities with a presence or … Continued