The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, is issuing a Public Statement to ensure co-ordinated 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 (TRs).

It says this approach is needed in response to the effect of current adverse developments events as a result of the COVID-19 pandemic.

ESMA says it expects competent authorities not to prioritize their supervisory actions towards entities subject to Securities Finance Transactions (SFT) reporting obligations as of April 13 2020 and until July 13 2020.

ESMA adds that it also expects TRs to be registered sufficiently ahead of the next phase of the reporting regime, i.e. July 13 2020, for credit institutions, investment firms, CCPs and CSDs and relevant third-country entities to start reporting as of this date.

ESMA says it continues monitoring closely the implementation by the relevant market participants as well as the impact of the relevant measures taken with regards to COVID-19 to ensure alignment of SFT reporting requirements and supervisory practices in the EU.

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The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, is issuing a Public Statement to ensure co-ordinated 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 (TRs).

It says this approach is needed in response to the effect of current adverse developments events as a result of the COVID-19 pandemic.

ESMA says it expects competent authorities not to prioritize their supervisory actions towards entities subject to Securities Finance Transactions (SFT) reporting obligations as of April 13 2020 and until July 13 2020.

ESMA adds that it also expects TRs to be registered sufficiently ahead of the next phase of the reporting regime, i.e. July 13 2020, for credit institutions, investment firms, CCPs and CSDs and relevant third-country entities to start reporting as of this date.

ESMA says it continues monitoring closely the implementation by the relevant market participants as well as the impact of the relevant measures taken with regards to COVID-19 to ensure alignment of SFT reporting requirements and supervisory practices in the EU.