EquiLend cyber hack exposes trade reporting dependence
Ransomware attack at securities lending platform disrupts regulatory compliance
A cyber attack on securities lending platform EquiLend last week has disrupted regulatory reporting, potentially necessitating special dispensation from supervisors for affected firms, according to market experts.
In Europe, market participants are required to report securities lending and borrowing to central securities depositories (CSDs) under the Securities Finance Transactions Regulation (SFTR), on a T+1 basis.
“I am assuming because no-one was able to get this out on the day when this
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