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ESMA Q&A Update – SFTR reporting

Topic

SFTR reporting

Date:

07 June 2023

Regulations

Level of significance of change

Minor

Main points

New question 16 – With regards to entities responsible to report SFTs for occupational pension (IORP) and personal pension funds, ESMA has confirmed the counterparties to the SFTs are responsible for reporting. When there is a non-financial counterparty (NFC) involved in the transaction, as long as two out of the three criteria listed on Article 3(3) of Directive 2013/34/EU are not met, the financial counterparty (FC) shall be responsible for reporting the SFT on behalf of both counterparties.

How does this change my reporting?

There is no impact on trade reporting.

What do I need to do?

No reporting changes necessary.

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Quinn Perrott

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Quinn Perrott

Quinn is co-CEO and founder of TRAction and focuses on assisting clients in Europe, Asia and Australia to meet their regulatory requirements with trade and transaction reporting solutions as well as development of the best execution platform. With a background in IT, Quinn started in the financial markets as IT Manager for City Index. He then co-founded and worked as a General Manager at one of Australia’s largest margin FX and CFD providers. Quinn has provided educational sessions to Australia’s regulatory bodies in relation to operational aspects of derivatives and trading platforms.