The European Securities and Markets Authority (ESMA) has issued a Public Statement to ensure coordinated supervisory actions on the application of Securities Finance Transactions Regulation (SFTR), in particular, on the requirements regarding the reporting start date, as well as the registration of Trade Repositories (TR). This approach is needed in response to the effect of current adverse developments events as a result of the COVID-19 pandemic.
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ISLA welcomes today’s statement from ESMA to ensure coordinated supervisory actions on the application of Securities Finance Transactions Regulation (SFTR). The statement notes that competent authorities should delay SFTR Phase 1 reporting until 13 July 2020 and further, not requiring Trade Repository (TR) registration before 13 April 2020.
