Who has to Report Under SFTR
Richard Comotto
30 years: Money markets
As the general rule is that any entity subject to EU jurisdiction has to report SFTs under SFTR, Richard focuses on the few exceptions and works through a decision tree to express how to determine who has to report when there are any doubts.
As the general rule is that any entity subject to EU jurisdiction has to report SFTs under SFTR, Richard focuses on the few exceptions and works through a decision tree to express how to determine who has to report when there are any doubts.
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Who has to Report Under SFTR
12 mins 24 secs
SFTR is a major regulatory reporting requirement for anyone transacting repo and other securities financing transactions in the EU, no matter how limited their activity. The reporting requirements cover all aspects of these transactions, including life-cycle events and re-use of collateral, and are therefore complex.
In order to meet the regulator’s demand for complete, accurate and timely data, firms are devoting considerable resources to the speedy remediation of rejected or unreconciled reports. It is likely that, at least initially, a high percentage of reports will be rejected or be qualified as incomplete or inaccurate, primarily due to poor drafting of the regulation and accompanying material.
This course provides a systematic and detailed insight into reporting repos under SFTR that uniquely incorporates the results of the work by the industry (the ICMA SFTR Task Force) on interpreting the regulatory requirements, filling in the gaps and dealing with the contradictions and mistakes.
Key learning objectives:
What is the scope of the regulatory requirements in terms of start dates and other deadlines?
Which entities are required to report and who is exempt?
Which transactions are out of scope?
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