The ECB recognises that the ability of CSDs to outsource certain operational activities is an important element for the development of an efficient securities settlement infrastructure across CSDs in Europe.
On 28 October 2011, the European Central Bank (ECB) received a request from the Finnish Ministry of Finance for an opinion on the following draft government proposals: (a) the draft law on the book-entry system and clearing and settlement; (b) the draft law on investment services; (c) the draft law on trading in financial instruments; (d) the draft law amending the Law on book-entry accounts; and (e) the draft law amending the Law on the financial supervisory authority (hereinafter collectively referred to as the ‘draft laws’).
Full opinion
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