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17 November 2017

ESMA updates Q&A on CSDR implementation

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ESMA published an update of its Questions and Answers regarding the implementation of the Central Securities Depository Regulation.

The CSDR Q&As provide common answers to question regarding practical issues on the implementation of the new CSDR regime. This update provides detailed answers regarding certain aspects of: 

  • Relevant authorities;
  • Conduct of business rules;
  • Protection of securities; and
  • Prudential requirements.

Q&As are an important tool to promote common supervisory approaches and practices in the application of CSDR. The aim at ensuring that national competent authorities in their CSDR supervisory activities are converging along the lines of the responses adopted by ESMA. It should also help investors and other market participants by providing clarity on the CSDR requirements.

The aim of CSDR is to harmonise certain aspects of the settlement cycle and settlement discipline and to provide a set of common requirements for CSDs operating securities settlement systems across the EU.

Full Q&A


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