Now the regulatory journey under SFTR begins: ESMA updated the SFTR Validation Rules and the XML Schemas applicable as of January 31st, 2022!
04 Aug Now the regulatory journey under SFTR begins: ESMA updated the SFTR Validation Rules and the XML Schemas applicable as of January 31st, 2022!
On the 29th of July ESMA has updated the Validation Rules and respectively the XML Schemas after the proposed changes have been reviewed by the ISO Evaluation Group.
This update has not been announced by a news post on ESMA’s website but has been included in the “Policy activities” Section under SFTR Reporting, which makes it extremely hard to find as it is not part of the “Spotlight on Markets” Newsletter.
Although from a first review the changes in the Validation Rules seem to be modest and mainly resolving existing deficiencies of the previous once. Various fields change their applicability (Mandatory, Conditional, Optional) which will change the Validations included in the XML schemas. The required changes should therefore not be underestimated and there are less than 6 months until these changes become applicable as of the January 31st, 2022 If you are looking for an intermediary that can protect you from being obliged to do all the technical changes on your own, feel free to contact us.