The EU Council has announced that it has adopted the proposed Regulation on reporting and transparency of securities financing transactions (SFT Regulation) on first reading. The press release suggests that the Council has adopted the text of the SFT Regulation that it published on 5 November 2015. The SFT Regulation will enter into force on the 20th day following the date of its publication in the Official Journal. It will apply from the date of its entry into force, with the exception of certain provisions set out in Article 33.