On 17 December 2021, the European Securities and Markets Authority (ESMA) released a public statement with regards to the postponement of Central Securities Depository Regulation (CSDR) buy-in provisions.
ISLA welcomes the public statement from ESMA entitled ‘Supervisory approach on the implementation of the CSDR buy-in provisions’ that advises NCAs not to prioritize supervisory actions in relation to the application of the CSDR buy-in regime. The mandatory buy-in process is one of the key measures of the settlement discipline regime established under CSDR.
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Click here to read ESMA’s update.