ISLA’s SFTR investment begins to bear fruit 15 March 2019London Reporter: Maddie Saghir
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The International Securities Lending Association’s (ISLA) investment in people and systems to support the industry through compliance with Securities Finance Transactions Regulation (SFTR) is “beginning to bear fruit”, according to Andrew Dyson, CEO, ISLA.
Dyson, in his ‘Reflections of the CEO’ article, explained that for ISLA, the past two weeks have once again centred considerably around their regulatory implementation initiatives.
He explained: “Together with our friends at the International Capital Market Association and Association for Financial Markets in Europe, we are the principal custodians of the market led initiatives to deliver SFTR.”
According to Dyson, they have been actively socialising progress and reviewing issues with a broader community where SFTR, although important, is a lesser part of their focus.
Earlier this week, ISLA hosted the first in a series of SFTR trade association meetings to share its SFTR experiences.
Dyson said: “Further to that and as part of this outreach programme, we also delivered an SFTR update to the German Fund Association’s (BVI) committee group. Here again, our role is to both inform and educate around this important initiative whilst trying to put SFTR into better context.”
“In thinking about the general aims and objectives of a reporting regime such as SFTR, the role of the primary regulator is key to the delivery of the required outputs from the market in a timely and efficient way.”
He added: “This week saw another detailed session with senior officials from European Securities and Markets Authority (ESMA), as we work towards consensus on a number of important issues.”
“As an aggregator and filter for market questions and issues, ISLA is providing a single and consistent conduit between ESMA and the market, whilst facilitating a better more transparent framework.”
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