REGIS-TR UK confirms authorisation 04 April 2019London Reporter: Maddie Saghir
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REGIS-TR’s recently launched British trade repository (TR), REGIS-TR UK Limited, has confirmed its authorisation under the Temporary Registration Regime of the UK regulator, the Financial Conduct Authority (FCA).
Having submitted an application package of detailed information to the FCA, the UK Temporary Registration Regime permits TRs to provide continuity of service.
They will be able to provide a continuity of service to the UK market post-BREXIT for a period of up to three years.
During this time, the full application will be scrutinised by the FCA before permanent approval is granted, REGIS-TR revealed.
This follows REGIS-TR’s incorporation of REGIS-TR UK Limited in March, headquartered at the London offices of Clearstream, one of its parent companies.
It was previously noted that with a focus on both Brexit and Securities Financing Transactions Regulation (SFTR) reporting, REGIS-TR is bringing in new senior regulatory staff to strengthen and expand its existing UK TR team.
Elena Carnicero, CEO of REGIS-TR, cited: “We are finalising the process of onboarding a significant number of UK-domiciled clients, as well as clients who report on behalf of their UK trading counterparties.”
“Whenever Brexit ultimately happens, we are ready for business. We also have a substantial number of UK-domiciled clients in our SFTR pipeline and look forward to servicing our clients across all TR regulatory reporting regimes in the UK going forward.”
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