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.

Latest Content

Do You Feel Confident Your Password Hasn’t Been Hacked?

As a cybersecurity consultant, I am often asked if some of the threats we industry practitioners talk about are overstated. Hyped up fear as a sales tactic. The simple answer is no. The fear is not overstated, and the risks all too real – which helps to explain why cyber remains a top priority for … Continued

SEC’s New Committee Begins Review of Form CRS Filings

The SEC’s Divisional Standards of Conduct Implementation Committee launched its review of Form CRS from a cross section of RIAs and BDs to assess compliance with the content and format requirements. Initial observations from the Committee have identified examples of relationship summaries that may lack certain disclosures or could be clearer or otherwise improved. The … Continued

Proposed Amendment to 13F – What This Really Means?

The SEC released a proposed amendment to Form 13F on July 10 to update the reporting threshold for institutional investment managers and make other targeted changes. The threshold has not been adjusted since the Commission adopted Form 13F over 40 years ago. New Proposed Reporting Threshold: The proposal would raise the reporting threshold to $3.5 … Continued