The updated document shines some light on doubts for proper implementation of the reporting requirements and appropriate workflow in accordance with the lifecycle events of SFTs by answering the following new topics:
- Submission of the events that were delayed being reported on time and the usage of Correction and Modification events linked to the Event Day.
- Alterations of the records of outstanding SFTs by the Trade Repositories based on reports made by the counterparties. This part consists of some good examples of the action which a reporting party should take if the changes applied after maturity or earlier termination.
- How financial counterparties should report SFTs activities on behalf of small non-financial counterparties pursuant to the Article 4(3) of SFTR. This part has a good description on the exact action that should be taken by both sides.