Market Finreg is a firm corresponding with regulators and the European Commission to ensure clarity and, where necessary, launch legal action. Because of the European Commission’s failure in responding to the SFTR RTS in time they “have commenced action against the European Commission (EC)“.
On 5 July, Market Finreg received an update from the European Commission after asking what the delta between ESMA’s RTSs and the commission’s intended adoption is. The European Commission said the issues under dispute are “very narrow” and “wouldn’t have major implications” on the industry.
According to the article the vast majority of the RTS has been adopted, though there are still some minor technical details left. This could mean that the RTS could be adopted as early by end of July or it will be pushed back to September.
Read the article from Market Finreg here