As anticipated in our November Front Page, the text of the Regulation on transparency of securities financing transactions (SFT Regulation) was published in the Official Journal of the EU. The SFT Regulation entered into force on 12 January 2016 and applies from 12 January 2016, with the exception of certain provisions set out in Article 33. The transparency requirements in respect of prospectus disclosures and reporting obligations are as detailed in the November Front Page.