SFTR reporting obligation

On 13 July 2020 (cf. Financial Newsletter 41), the first phase of the obligation for investment firms and central counterparties to report securities financing transactions came into effect. Two key phases have taken place since then, with the regime being extended to include management companies in October 2020, while in January 2021, Brexit occurred and the regime was extended to non-financial counterparties.

Although the various phases went ahead successfully on the whole, AMAFI continues to devote considerable attention to this topic through its SFTR Group. The goal now is to improve reporting quality, in conjunction with French and European authorities, the main service providers and the European associations most affected by the regulation, such as the International Capital Markets Association (ICMA) and the International Securities Lenders Association (ISLA). One aim is to improve matching between two reporting parties. Another is to address issues that continue to raise difficulties, such as the question of global legal entity identifiers (LEIs).