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Version date: 29 March 2021 - onwards
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4.4 Allocation of responsibility under Article 4(3) SFTR

4.4.1 General case

58. NFC should communicate with FC whether they qualify as small NFC or not, as well as update the FC on any potential changes in their status.

4.4.2 Third Country - Financial Counterparties (TC-FC)

59. Once the equivalence of a given TC is declared by the EC, in the case of SFT concluded between a TC-FC, with a branch in the Union, and a SME-NFC, where the TC-FC and the SME-NFC have fulfilled the reporting obligations of that third country, neither the TC-FC nor the SME-NFC should report the SFT under SFTR.

60. Regarding SFTs concluded between an TC-FC outside the scope of application of SFTR (i.e. not covered by Article 2(1)(a)(ii) of SFTR) and an SME NFC, such SFTs should either be reported directly by the SME NFC to a TR, or otherwise make use of the possibility for delegation included in Article 4(2).

4.4.3 Funds

61. Where the allocation of responsibility under Article 4(3) SFTR is not applicable to the AIFM, i.e. the AIFM is not subject to SFTR, the responsibi

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