In October 2020, SEC staff raised concerns that several broker-dealers were not fulfilling their obligations under Rule 15c3-3 by retaining control over the collateral used to secure borrowings of fully paid and excess margin securities
The sponsored cleared repo sector has climbed from approximately $30 billion in daily volume in early 2017 to a peak of over $525 billion in March 2019, with daily volumes in recent months consistently above $200 billion
Despite a year of SFTR reporting, the European regulator鈥檚 data quality report is sparse on detail but ESMA says it鈥檚 on the case and will build out its findings next year