ESMA

European Securities and Markets Authority

Low Impact

ESMA updates SFTR competent authorities list

Published

Mar 3, 2025

Topics

SFTR, Securities financing transactions, Competent authorities, National competent authorities, Reference data, Regulatory reporting governance

Executive Summary

ESMA has updated its list of competent authorities designated for Regulation (EU) 2015/2365 on transparency of securities financing transactions and of reuse (SFTR), with the document marked “Last updated: 03/03/2025”. The publication identifies the authority framework used for SFTR Article 16, including the relevant competent authorities for financial counterparties, non-financial counterparties, and the supervisory authorities relevant to UCITS management companies, UCITS investment companies and AIFMs for SFTR Articles 13 and 14. This is a reference and routing update rather than a substantive amendment to SFTR obligations. The supplied ESMA publication does not evidence changes to SFTR reporting templates, XML schemas, validation rules, reportable fields or reporting deadlines. Business impact is therefore low, but firms should refresh internal NCA mapping, regulatory-contact inventories and escalation procedures used for SFTR reporting oversight, disclosure supervision and regulatory correspondence. Firms operating across multiple EU jurisdictions or using delegated reporting models should confirm that operational teams and vendors route SFTR queries to the current competent authority sources.

What Changed

modifiedSFTR competent authority reference list updated

The supplied extract does not identify the immediately preceding version date.

New

The ESMA SFTR competent authorities list is marked “Last updated: 03/03/2025”.

modifiedArticle 16 authority framework retained as routing basis

Competent authority identification depends on the relevant sectoral regime for the entity type.

New

The ESMA list links SFTR authority identification to EMIR, the ECB/SSM framework, CRD, MiFID II, Solvency II, IORP, UCITS, AIFMD and CSDR references.

modifiedNon-financial counterparty routing

No separate SFTR-only competent authority designation for non-financial counterparties is evidenced in the supplied extract.

New

For non-financial counterparties, ESMA points users to authorities designated under Article 10(5) of Regulation (EU) No 648/2012.

modifiedUCITS and AIFM Articles 13 and 14 supervision references

UCITS and AIFM supervisory routing is based on their sectoral competent authority regimes.

New

ESMA’s SFTR list expressly references Directive 2009/65/EC Article 97 for UCITS entities and Directive 2011/61/EU Article 44 for AIFMs.

Business Impact

Who is affected

Directly affected

financial counterparties, non-financial counterparties, UCITS management companies, UCITS investment companies and AIFMs within SFTR supervisory scope.

Indirectly affected

trade repositories, delegated reporting providers, fund administrators, compliance teams, legal teams, regulatory operations teams and reference-data vendors supporting SFTR processes.

Jurisdictions

European Union, EEA jurisdictions where SFTR is incorporated or applied

Business processes

SFTR competent-authority and NCA reference-data maintenance, Regulatory inquiry and supervisory correspondence routing, SFTR reporting governance and delegated reporting oversight, UCITS and AIFM Article 13 and Article 14 disclosure supervision routing, Regulatory change management and policy inventory controls

Estimated effort

Low

Compliance risk

Low

Affected Reports

SFTR competent authority and NCA routing matrixRegulatory inquiry and breach-escalation playbook for SFTR mattersDelegated SFTR reporting oversight controlUCITS and AIFM SFTR Articles 13 and 14 supervisory-contact registerRegulatory reference-data inventory for EU market-regulation obligations

Field	Validation rule
Competent authority / NCA reference	Refresh the authority reference used for SFTR routing against ESMA’s SFTR competent authorities list last updated on 03/03/2025.
Counterparty authority basis	Classify the authority source by SFTR Article 16 category, including financial counterparties, non-financial counterparties, UCITS entities and AIFMs.
UCITS/AIFM Articles 13 and 14 supervisory route	Route SFTR Articles 13 and 14 supervisory matters for UCITS entities and AIFMs using the UCITS Directive Article 97 and AIFMD Article 44 authority references identified in ESMA’s list.

Recommended Actions

6 suggested next steps· derived from source analysis

1
AI generatedStep 1 of 6
Update the firm’s SFTR NCA routing matrix and evidence the refresh against ESMA’s 03/03/2025 list.
2
AI generatedStep 2 of 6
Confirm that regulatory operations, compliance, legal and fund-governance teams use the same competent-authority source for SFTR escalation and correspondence.
3
AI generatedStep 3 of 6
Review delegated reporting and vendor operating procedures to ensure SFTR supervisory queries are routed to the current authority contacts or source links.
4
AI generatedStep 4 of 6
For UCITS and AIFM businesses, verify that Article 13 and Article 14 disclosure-related supervisory routing aligns to the UCITS and AIFMD competent authority references in the ESMA list.
5
AI generatedStep 5 of 6
Do not initiate SFTR template, XML, validation-rule or report-field changes solely from this publication unless a separate ESMA or EU technical-standard update is identified.
6
AI generatedStep 6 of 6
Add the ESMA competent authority list to periodic regulatory-reference-data monitoring, especially for multi-jurisdictional EU reporting operations.

Timeline

publication

Mar 3, 2025

ESMA SFTR competent authorities list marked as last updated.

Sources

AI-generated analysis is based on the following primary sources. Always verify against the official publication.

Official competent authority listEuropean Securities and Markets AuthorityMar 3, 2025
List of competent authorities designated for the purposes of Regulation (EU) 2015/2365 on transparency of securities financing transactions and of reuse (SFTR) ↗
https://www.esma.europa.eu/sites/default/files/sftr.pdf
EU regulationEUR-LexNov 25, 2015
Regulation (EU) 2015/2365 on transparency of securities financing transactions and of reuse ↗
https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32015R2365
EU regulationEUR-LexJul 4, 2012
Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and trade repositories ↗
https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32012R0648
Official ESMA publications webpageEuropean Securities and Markets AuthorityDate not specified
News and Publications ↗
https://www.esma.europa.eu/publications-and-data
Official ESMA reference-data webpageEuropean Securities and Markets AuthorityDate not specified
Databases and Registers ↗
https://www.esma.europa.eu/publications-and-data/databases-and-registers

Related Evidence

Verified source support for this analysis

The evidence agent checks whether the drafted finding is supported by official publications and relevant public source material.

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