COVID-19: Impact on Reporting Securities Financing Transactions

Reporting under the Securities Financing Transactions Regulation1, or SFTR, was due to start on 13 April 2020 for banks and certain investment firms. However, as the financial industry is already facing significant challenges due to the COVID-19 virus, ESMA has issued a public statement (the “Statement”) according to which national competent authorities should not prioritise their supervisory actions with regard to the reporting obligation until 13 July 2020 (here).

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