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Regulatory Watch: ESMA delays SFTR roll out amid COVID-19 outbreak

19 March 2020

ESMA has today announced a three month delay of the SFTR implementation to mitigate the impact of COVID-19 on the EU financial markets.

The statement has been issued to ensure a coordinated approach to the application of Securities Finance Transactions Regulation (SFTR) across Europe and focusses in particular on the reporting start date and the registration of Trade Repositories (TRs).

In summary:

  • ESMA expects competent authorities not to prioritise their supervisory actions towards entities subject to SFT reporting obligations as of 13 April 2020 and until 13 July 2020.

  • ESMA does not consider it necessary to register any TR ahead of 13 April 2020. Instead ESMA expects TRs to be registered ahead of the next phase of the reporting regime, i.e. 13 July 2020, for credit institutions, investment firms, CCPs and CSDs and relevant third-country entities to start reporting as of this date.

 

Read the statement here

READ STATEMENT

 


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