On 24 October 2023, the FCA updated its webpage on UK SFTR news.
The updated webpage notes that, on 1 August 2023, the FCA published draft UK SFTR Validation Rules and XML schemas to support the ongoing reporting of securities financing transactions under the UK SFTR and invited comments from stakeholders. The amendments were in response to industry feedback and to address data quality issues.
Following consideration of the feedback received, the FCA has made minor amendments to the draft versions where appropriate, and has published final versions of the UK SFTR Validation Rules and XML schemas on its UK SFTR reporting webpage.
The changes to the Validation Rules and XML schemas will be applicable from 25 November 2024.
The webpage also flags that the FCA published a new UK SFTR Errors and Omissions form on 23 October 2023. Going forward, the FCA asks that firms use the new form to notify it of any errors or omissions in their securities financing transaction reports under Article 4 of UK SFTR. Firms are expected to notify the FCA as soon as practicably possible following identification of any errors and/or omissions with their UK SFTR reporting. The new form can be found on the UK SFTR reporting webpage.