The Securities Financing Transactions Regulation (SFTR) entered into force on 12 January 2016. The SFTR has a broad scope with extraterritorial and retrospective reach, and impacts on both EU and non-EU financial and non-financial counterparties. All firms involved in securities financing transactions (SFTs) and reuse of financial instruments will need to assess the extent to which they need to comply with the reporting and disclosure obligations within the SFTR. UCITS managers and AIFMs will also need to consider whether the periodic and pre-contractual disclosure requirements in respect of SFTs, as well as total return swaps, will apply to the funds they manage.
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