FINMA delays reporting date for NFC- firms transaction reporting under FinfraG

October 18, 2017

The Swiss Financial Market Supervisory Authority (FINMA) is granting non-financial companies with low derivatives trading volumes more time to start reporting to a trade repository. This extension period will end on 1 January 2019.

Non-financial companies are facing operational complexities in attempting to implement derivative reporting requirements in application of the Financial Market Infrastructure Act (FMIA). This concerns derivative transactions by so-called small non-financial counterparties conducted with foreign counterparties. FINMA is now extending the transitional provisions for these Swiss companies not subject to FINMA supervision from 1 April 2018 to 1 January 2019.

The original press release can be found on the FINMA website here.

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