ESMA updates its Q&As on AIFMD - impact of SFTR on AIFMD
The European Securities and Markets Authority has updated its Q&As on AIFMD to include a question on the reporting of securities financing transactions (SFTs) and total return swaps by UCITS and AIFMs under the SFT Regulation.
On 06 October 2016, the European Securities and Markets Authority (ESMA) published an updated version of its Q&As on AIFMD, including a new question (Section XIII, Q.1) on the impact of the Securities Financing Transactions Regulation (SFTR) on AIFMD.
Article 13 of SFTR, which applies from 13 January 2017, requires UCITS, UCITS ManCos and AIFMs to provide information on the use made of SFTs and total return swaps in the annual report of each UCITS/AIF under management, as well as in each half-yearly report for UCITS.
ESMA’s answer confirms that the relevant information needs to be included in the next annual or half-yearly report published after 13 January 2017, noting that this may relate to a reporting period beginning before that date.
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