FCA extend SFTR deadline for third country issuer LEIs
05 April 2022 UK
Image: carmenbobo/stock.adobe.com
The Financial Conduct Authority (FCA) has announced a six-month extension on the reporting of Legal Entity Identifiers (LEIs) of non-European Economic Area third-country issuers.
Firms will not need to report third-country LEIs under the UK Securities Financing Transactions Regulation (SFTR) until at least 13 October 2022.
The International Securities Lending Association has welcomed the extension of the forbearance period, which was due to expire on 13 April.
This period is now closely in line with the European Securities and Markets Authority’s (ESMA’s) EU SFTR deadline, which is due to end on 10 October.
The announcement marks a second extension period for the reporting of non-EEA third country issuers, with the UK financial regulator creating a 12-month extension from the original date of 13 April 2021.
The move was designed to avoid market disruption after large gaps remained in LEI coverage outside of the EEA.
Firms will not need to report third-country LEIs under the UK Securities Financing Transactions Regulation (SFTR) until at least 13 October 2022.
The International Securities Lending Association has welcomed the extension of the forbearance period, which was due to expire on 13 April.
This period is now closely in line with the European Securities and Markets Authority’s (ESMA’s) EU SFTR deadline, which is due to end on 10 October.
The announcement marks a second extension period for the reporting of non-EEA third country issuers, with the UK financial regulator creating a 12-month extension from the original date of 13 April 2021.
The move was designed to avoid market disruption after large gaps remained in LEI coverage outside of the EEA.
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