Flashnews: The settlement disciplines regime (CSDR): SDR 2022


A new step was taken on Friday, October 23, 2020. The European Commission has adopted the proposal made by ESMA to extend the implementation date of the settlement disciplines imposed by CSDR by an additional year.

The 1 February 2022 is now within reach; the Parliament and the Council now have a three-month deadline (precisely one week before 1 February 2021) to object.

In parallel, the Commission should launch its consultation on the review of CSDR in the coming days. The settlement disciplines regime, although not yet in force, appears to be among the topics addressed. This will be an opportunity for the industry to recall the negative impacts of the mandatory buy-in and to call on legislators and regulators to find alternative solutions.

Useful links:

29 September 2020: Article EMIR Third country CCPs … and the UK
28 September 2020: Article CMU 2 new action plan
25 September 2020: Article New measures on digital finance
23 September 2020 : Article AIFMD Review: the process is ongoing
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
28 July 2020: Article CSDR: Could the implementation of the future settlement discipline regime be pushed back by a year?
03 July 2020: Podcast CSDR: Get ready