Q16. Is the proposed guidance for determining whether an SFT conducted by a branch needs to be reported clear and comprehensive? Which areas require further clarification? Please detail the reasons for your response.
145. ESMA proposed in the CP guidance for determining whether an SFT conducted by a branch needs to be reported. The guidance refers to a table that is included in the CP. The respondents considered the table to be clear and helpful.
146. Against this backdrop, the Guidelines include the elements provided in the CP.