The MFSA Circular on Regulation (EU) No 2015/2365
("SFTR") on Securities Financing
Transactions issued on the 27 March 2020 is addressed to all market
participants, particularly entities which enter into securities
financing transactions falling under the scope of SFTR, inter
alia financial and non-financial counterparties as defined in
Article 3 of SFTR.
This article is to be read in conjunction with the SFTR, and the
Delegated Acts. This article serves as a more recent update to the
previous article written by GANADO Advocates on the Authority's
position on the postponement of reporting obligations, which can be
accessed from this link.
SFTs Subject to Backloading
On the 19 March, the European Securities and Markets Authority
("ESMA") put in place various mitigating
measures on the EU financial markets, in light of COVID-19
pandemic. These measures have been highlighted in GANADO
Advocate's previous article on the matter. ESMA has revised
their statement in
