The European Commission has today published a targeted consultation on the review of regulation on improving securities settlement in the European Union and on Central Securities Depositories (CSDs).
The objective of the consultation is to gather views from external stakeholders that participate in settlement processes, in order to improve settlement efficiency across the EU. The consultation requests feedback in specific areas where further action may be required, to ensure fulfillment of the objectives of CSDR.
The key area of focus for ISLA and its members will be around Section 7, which includes questions on the application of the settlement discipline, including penalties and mandatory buy-ins.
The deadline for responses is 2 February 2021.
ISLA will be holding a meeting of the CSDR Group on 10 December at 14:00 GMT. If you would like to participate in the consultation response to the Commission on behalf of your firm and are not yet registered for the working group, then please register here
The full consultation paper can be found here
For any general questions, please contact firstname.lastname@example.org.
For access to all CSDR-related content, please visit the CSDR section. For details of all expected EU developments over the coming 2 to 3 years, as well as a table summarising the key priorities that have changed in light of COVID-19, please click here