How To Fix FTR_GUI567 - Trade repository field legal basis not filled

SAP Error Message - Details

• Message type: E = Error

• Message class: FTR_GUI - TR Transaction Management

• Message number: 567

• Message text: Trade repository field legal basis not filled

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FTR_GUI567 - Trade repository field legal basis not filled ?

  The SAP error message FTR_GUI567 indicates that the "legal basis" field in the trade repository is not filled. This error typically occurs in the context of financial transactions, particularly in the area of derivatives and financial instruments, where regulatory compliance is essential.
  Cause:
  The error arises when a transaction is being processed, and the system requires a legal basis to be specified for the trade. The legal basis is often a regulatory requirement that specifies the legal framework under which the trade is executed. If this field is left blank, the system will not allow the transaction to proceed, resulting in the error message.
  Solution:
  To resolve this error, you need to ensure that the "legal basis" field is filled in the relevant transaction or document. Here are the steps you can take:
  
  
  Access the Transaction: Go to the transaction where the error occurred (e.g., entering a trade or processing a financial instrument).
  
  
  Locate the Legal Basis Field: Find the field labeled "Legal Basis" or similar in the trade repository or transaction entry screen.
  
  
  Fill in the Required Information: Enter the appropriate legal basis for the transaction. This could be a specific regulation, law, or internal policy that governs the trade.
  
  
  Save the Transaction: After filling in the required field, save the transaction and check if the error persists.
  
  
  Consult Documentation: If you are unsure what to enter in the legal basis field, consult your organization's compliance documentation or speak with a compliance officer or legal advisor.
  
  
  System Configuration: If the field is not available or you believe it should be filled automatically, check with your SAP administrator or technical team to ensure that the system is configured correctly to handle legal basis entries.
  
  
  Related Information:
  
  Regulatory Compliance: Understanding the legal frameworks applicable to your trades is crucial. This may involve knowledge of local and international regulations, such as EMIR (European Market Infrastructure Regulation) or Dodd-Frank in the U.S.
  SAP Documentation: Refer to SAP's official documentation or help resources for more detailed information on handling trade repository entries and compliance requirements.
  User Training: Ensure that users involved in trade processing are trained on the importance of filling in all required fields, including the legal basis, to avoid similar errors in the future.
  
  By following these steps, you should be able to resolve the FTR_GUI567 error and ensure that your transactions are compliant with the necessary legal requirements.