ASIC further extends the UTI exemption

ASIC Extension

ASIC has granted conditional relief from use of Unique Trade Identifiers (UTI) for another 2.5 years – this has been reflected in an updated version of the relevant instrument.

1. Extension of UTI relief until 30 September 2022

The current UTI relief expired on 31 March 2020 and the extension of the current UTI relief takes effect from 1 April 2020 until 30 September 2022. The relief allows the Reporting Entity not to report, for a Reportable Transaction, a UTI or a single transaction identifier used by both counterparties.

2. Introduction of new condition to Reporting Entities subject to CFTC regulations

ASIC also introduced a new condition that requires Reporting Entities subject to the Commodity Futures Trading Commission (CFTC) regulation to report a UTI issued by CFTC on the assumption that the UTI is not required by ASIC. CFTC expects to implement its UTI requirement from 31 December 2020.
ASIC has advised that it will consider the need to revise the relief instrument to accommodate any further International Organization of Securities Commissions (IOSCO)-compliant UTI reporting requirements introduced by other jurisdictions.

If you have any questions, please feel free to contact us.

Read More

Article Author:

Share:

Stay in the Know

Recent Articles:

Meet Russell
About TRAction

Meet the Team: Russell

Today, we introduce you to our A new week means, a new TRAction team member to meet. Today, we introduce you to our General Manager of UK/EU…

Want to know why over 400 firms report their trades through TRAction?

Contact us to simplify your trade and transaction reporting.