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Article: Navigating the waters of EMIR MiFIR and SFTR

26 April 2017 | Alan McIntyre
   

January shed some light on the European regulatory reporting timelines but provided a mixture of both relief and pressure on EMIR MiFIR and SFTR

EMIR MiFIR and SFTR

The industry breathed a sigh of relief when it became apparent that SFTR transaction reporting will most likely commence in Q4 instead of Q1 of 2018. The relaxation was short-lived though, as the European Commission then fired the starting pistol on the EMIR Article 9 RTS rewrite with a compliance date of November 1st 2017. The elephant in the room for both of these reporting regimes is the January 3rd 2018 MiFID II date and their potential proximity to it.

 

Smooth-sailing or choppy seas

The SFTR relief came courtesy of ISLA (the International Securities Lenders Association) who published an opinion on the timelines associated with the implementation of article 4 of SFTR with an estimated compliance target date of Q4 2018, based on the remaining steps within the EU legislative

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