March 19, 2020 / 9:21 AM / 22 days ago

EU gives markets more time to apply new reporting rules due to coronavirus

LONDON, March 19 (Reuters) - The European Union’s markets watchdog said on Thursday it will give market participants an extra three months until mid-July to comply with new reporting requirements for securities finance transactions.

The European Securities and Markets Authority (ESMA) said it expected national regulators not to prioritise supervision of compliance with the new rules that come into on April 13 until July 13.

Securities finance transactions refer to investors and companies using assets such as stocks and bonds to secure day-to-day funding. The new reporting rules aim to increase transparency in the sector. (Reporting by Huw Jones; Editing by Alex Richardson)

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