On March 27, ESMA published a consultation on changes to the technical standards of trade reporting under the EMIR Refit legislation. Highlights include: ESMA proposes a complete overhaul of EMIR with full alignment to SFTR in terms of validations and data formats and alignment with MiFIR in terms of how to handle reference data (specifically … Continued
The capacity of financial firms to comply with the upcoming go-live of SFTR reporting obligations has been critically compromised by the escalating COVID-19 pandemic. According to The International Securities Lending Association (ISLA) and the International Capital Market Association (ICMA) a delay is now necessary. The two industry bodies sent a joint letter to the European … Continued
Looming regulatory deadlines – such as the impending roll-out of Europe’s Securities Financing Transactions Regulation (SFTR) – are rarely welcomed by compliance teams at buy- and sell-side firms. But the introduction of this complex and far-reaching regulation, starting April 2020, offers market participants a significant opportunity. Firms that have so far adopted a tactical approach … Continued
United States and European Union reporting requirements imposed on investment managers have exploded since the Global Financial Crisis and, with the imminent arrival of SFTR in Europe, it seems poised to expand again. The challenge of reporting trades, transactions and contracts in multiple jurisdictions requires firms to embrace technology as regulators continue to look to … Continued
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 … Continued
Securities Financing Transactions Regulation (SFTR) requirements are expected to be adopted by the European Commission (EC) by Q1 2019. Prior to finalisation, the EC and the European Securities and Markets Authority (ESMA) must resolve some differences over the SFTR level 2 Regulatory Technical Standards (RTS), but no further material changes are expected.
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