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European Commission adopts CSDR level 2 legislative acts


01/01/2017

On 11 November 2016, the European Commission has adopted a package of six legislative acts to implement specific provisions of the Regulation on improving securities settlement and regulating central securities depositories (CSDs) (Regulation CSDR)), consisting of a Commission Delegated Act, three regulatory technical standards (RTS) and two implementing technical standards (ITS).


On 11 November 2016, the European Commission has adopted a package of six legislative acts to implement specific provisions of the Regulation on improving securities settlement and regulating central securities depositories (CSDs) (Regulation CSDR)), consisting of a Commission Delegated Act, three regulatory technical standards (RTS) and two implementing technical standards (ITS).

  • The Delegated Act concern the parameters for the calculation of cash penalties for settlement fails and the operations of CSDs in host member
  • The three RTS concern respectively : 1/ certain prudential requirements for CSDs and designated credit institutions offering banking-type ancillary services, 2/ the authorisation, supervisory and operational requirements for CSDs,3/ the content of the reporting on internalised settlements.
  • the two ITS concern respectively : 1/ standard forms, templates and procedures for authorisation, review and evaluation of central securities depositories, for the co-operation between authorities involved and the format of the records to be maintained by CSDs 2/ templates and procedures for the reporting and transmission of information on internalised settlements