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ARTICLE · 01 APRIL 2020

ESMA Public Statement: Postponement Of The Reporting Obligations Under The Securities Financing Transactions Regulation ("SFTR")

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In a Public Statement issued by the European Securities and Markets Authority ("ESMA") on 18 March 2020, ESMA acknowledges that it was made aware of the pressure being made on the financial industry

MaltaFinance and Banking
Ria Micallef
Ria Micallef
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In a Public Statement issued by the European Securities and Markets Authority ("ESMA") on 18 March 2020, ESMA acknowledges that it was made aware of the pressure being made on the financial industry to comply with the new regulatory obligations under Regulation 2015/2365 ("SFTR") amidst the current challenging times due to the COVID-19 virus.

Individual firms are taking actions to respond to the pandemic to protect their business and employees' health. They need to ensure core business continuity in extremely stressed market conditions. The impact on the personnel, exacerbated by the pressures on firms caused by increases in market volatility and volumes, has thus seriously compromised the SFTR implementation programmes.

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