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.