By Tariq McFadzean, director and James Langlois, senior manager, Quorsus

Back in 2015, the Securities Financing Transactions Regulation (SFTR) was first published in the Official Journal of the European Union. Since then, the European Securities and Markets Authority (ESMA), supported by the various National Competent Authorities in Europe and the UK financial services supervisory community, have worked diligently in implementing a regulation that is aimed at enhancing the transparency of the securities financing markets and consequently the financial system overall.

But unlike previous regulatory reporting regimes such as the European Market Infrastructure Regulation (EMIR), SFTR suffered unique implementation challenges such as the COVID-19 global pandemic and Brexit. Here, we will be reviewing the impact of such challenges and highlighting what’s next for those caught by this regulation.

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