Flashnews: The settlement discipline regime (CSDR) SDR 2022
A few days before the fateful date of February 1, 2021, it is now official, the settlement disciplines regime will only come into force in one year, namely February 1, 2022.
This respite is not only welcome but necessary. The industry is still waiting for answers to the many questions put to ESMA and now in the hands of the Commission. Without them it is impossible to implement operationally the future regime of settlement disciplines (and in particular the buy-in’s component).
At the same time, the consultation process initiated by the Commission on a review of CSDR is continuing. This is an opportunity for the various professional associations to reiterate their request for a buy-in that is no longer mandatory but left to the discretion of the buyer. The negative impacts of this requirement, already present in normal times, would be amplified in times of crisis. The simulations that could have been done using the turbulence in March – April 2020 due to the pandemic clearly show this.
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26 October 2020: Article The settlement disciplines regime (CSDR): SDR 2022
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03 September 2020 : Article The settlement disciplines regime (CSDR): A likely short-lived date
26 August 2020: Article The settlement disciplines regime (CSDR): A likely short-lived date