EU's New Securities Financing Trade Regime Goes Live
Law360, London (July 14, 2020, 4:06 PM BST) -- European Union rules that require the details of securities transactions to be reported to regulators have launched smoothly, the European Securities and Markets Authority has said.
The bloc's Securities Financing Transactions Regulation requires financial services companies to report all such transactions — known as SFTs — that they execute to trade repositories, registered companies that maintain the details of derivatives. The repositories are expected to validate the reports received and submit them to regulators.
ESMA said after the regime launched on Monday that reports from repositories suggested there had been "no major disruptions."
"Today, all four trade repositories opened their systems and [started]...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!