Featured Product

    ESMA Publishes Opinion on Proposed Amendments to Standards on SFTR

    September 05, 2018

    ESMA published an Opinion in response to the EC proposed amendments of the technical standards on reporting under the Securities Financing Transactions Regulation (SFTR). ESMA has declined to amend the draft technical standards as proposed by EC, which relate to provisions on the use of legal entity identifiers (LEI) for branches and unique transaction identifiers (UTI) for reporting to trade repositories.

    ESMA has not amended the draft technical standards and believes that the proposed amendments will:

    • Hinder the possibility to take into account international developments and reporting standards agreed at global level and risk timely alignment with international reporting standards
    • Deviate from and create inconsistency with the currently applicable EMIR reporting standards
    • Not provide certainty, clarity, predictability, and consistency, which is essential for the market and public authorities in relation to reporting standards
    • Result in a significantly extended timeline for the introduction of global standards in EU

    Initially, on March 30, 2018, ESMA had submitted to EC the regulatory technical standards on the details of securities financing transactions to be reported to trade repositories and implementing technical standards on the format and frequency of such reports. On July 24, EC, through a letter, had informed ESMA of its intention to endorse with amendments the draft regulatory and technical standards that were submitted by ESMA. Regulation requires ESMA to adopt a formal opinion on proposed amendments to its draft technical standards by EC within a six-week period. The draft technical standards may now be adopted or amended by EC.


    Related Links

    Keywords: Europe, EU, Securities, SFT, SFTR, RTS/ITS, LEI, UTI, Opinion, EC, ESMA

    Related Articles
    News

    APRA Updates Validation and Derivation Rules in September 2020

    APRA updated the lists of the Direct to APRA (D2A) validation and derivation rules for authorized deposit-taking institutions, insurers, and superannuation entities.

    September 24, 2020 WebPage Regulatory News
    News

    EC Proposes Frameworks for Crypto-Assets and Operational Resilience

    EC adopted a package that includes the digital finance and retail payments strategies and the legislative proposals for regulatory frameworks on crypto-assets and digital operational resilience.

    September 24, 2020 WebPage Regulatory News
    News

    ECB Publishes Opinion on Proposals to Amend Securitization Framework

    ECB published an opinion (CON/2020/22) on proposals for regulations amending the securitization framework of EU, in response to the COVID-19 pandemic.

    September 24, 2020 WebPage Regulatory News
    News

    FCA Consults on Regulation of International Firms in UK

    FCA is consulting on its approach to the authorization and supervision of international firms operating in UK.

    September 23, 2020 WebPage Regulatory News
    News

    MAS Amends Notice on Capital Adequacy Requirements of Banks

    MAS published amendments to Notice 637 on the risk-based capital adequacy requirements for reporting banks incorporated in Singapore.

    September 23, 2020 WebPage Regulatory News
    News

    FCA to Begin to Move Firms to New Data Collection Platform RegData

    FCA announced that it will move firms to RegData from Gabriel in the coming months in stages, based on the reporting requirements of firms.

    September 23, 2020 WebPage Regulatory News
    News

    ISDA Expects IBOR Fallbacks to be Effective by End of January 2021

    ISDA issued a letter to regulators to flag that it now expects the supplement to the 2006 ISDA Definitions and the Interbank Offered Rate (IBOR) Fallbacks Protocol to be effective around mid- to late-January 2021.

    September 23, 2020 WebPage Regulatory News
    News

    APRA Reviews Repayment Deferral Plans, Identifies Best Practices

    APRA has concluded its review of the comprehensive plans of authorized deposit-taking institutions for the assessment and management of loans with repayment deferrals.

    September 22, 2020 WebPage Regulatory News
    News

    ESAs Assess Risks to Financial Sector After COVID-19 Outbreak

    ESAs (EBA, EIOPA, and ESMA) published the first joint report that assesses risks in the financial sector since the outbreak of the COVID-19 pandemic.

    September 22, 2020 WebPage Regulatory News
    News

    BoE Confirms Withdrawal of COVID Corporate Financing Facility

    BoE and HM Treasury confirmed that the COVID Corporate Financing Facility (CCFF) will close for new purchases of commercial paper, with effect from March 23, 2021.

    September 22, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5836