The replies to the consultation will serve as an input for the “phase-in approach” on the extension of the disclosure requirements of the CRA 3 RTS for private and bilateral transactions in SFIs.
ESMA launched a call for evidence to collect information from market participants about the approach to disclosure for Structured Finance Instruments (SFIs) originated and/or traded on a private and/or bilateral basis. The consultation will last until 20 May 2015.
The first objective is to seek the views of market participants and gather information that may help ESMA to define private and bilateral transactions in SFIs and to establish whether the two categories should be kept separate. The second objective is to gather evidence to assess whether the disclosure requirements could be used in their entirety for private and bilateral SFIs transactions or whether they should be adapted.
On the basis of the feedback received, ESMA will draft a Consultation Paper to be submitted during the course of Q4 2015.
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