On 22 December 2021, ISLA in conjunction with several trade associations, wrote to European Securities and Markets Authority (ESMA) regarding the delay to the implementation of the mandatory buy-in rules as part of the Central Securities Depository Regulation (CSDR) Settlement Discipline Regime.
The Joint Associations welcome the clarification from ESMA that national competent authorities are expected not to prioritise supervisory actions in relation to the application of the CSDR buy-in regime, and support the delay to the implementation of mandatory buy-ins.
ESMA released a public statement, on 17 December 2021, with regards to the postponement of CSDR buy-in provisions. The Joint Associations welcome supporting communication from EU national competent authorities confirming the guidance provided by ESMA.
The Joint Associations remain committed to further improving settlement efficiency in Europe’s capital markets. The letter can be found here.
22 December 2021Subscribe to our news