Aggregated News From Investment Management Regulators

ESMA is preparing a new RTS to further postpone CSDR settlement discipline

Report/Flag

Please complete the required fields.



The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, is working on a proposal to possibly delay the entry into force of the CSDR settlement discipline regime until 1 February 2022. This is due to the impact of the COVID-19 pandemic on the implementation of regulatory projects and IT deliveries by CSDs and came as a request from the European Commission.

This measure would be additional to the delay foreseen in the ESMA Final Report on RTS on postponing the date of entry into force of the Commission Delegated Regulation (EU) 2018/1229 (RTS on settlement discipline) until 1 February 2021. This has been endorsed by the European Commission on 8 May 2020 and it is subject to the non-objection of the European Parliament and of the Council until 8 August 2020.

The RTS on settlement discipline cover measures to prevent and address settlement fails including:

  • rules for the trade allocation and confirmation process;
  • cash penalties on failed transactions;
  • mandatory buy-ins; and
  • monitoring and reporting settlement fails.

Next steps

ESMA aims to publish the final report on further postponing the date of entry into force of the RTS on settlement discipline by September. Following the endorsement of the RTS by the European Commission, the Commission Delegated Regulation will then be subject to the non-objection of the European Parliament and of the Council.

Source link

Regulator Information

Abbreviation: ESMA
Jurisdiction: ESMA

Recent Articles

Corriegarth Wind Energy/ www.corriegarthwindenergy.com (Please note this has no link to Corriegarth Wind Energy Holdings Limited Company number SC253383 or Corriegarth Wind Energy Limited...

We believe this firm may be providing financial services or products in the UK without our authorisation. Find out why you should be wary...

elitefxoptiontrade

We believe this firm may be providing financial services or products in the UK without our authorisation. Find out why you should be wary...

Bendigo Coins LTD (clone of FCA authorised firm)

Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out...

Upswingtrade.com (Clone of FCA authorised firm)

Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out...

Kensington Capital UK

We believe this firm may be providing financial services or products in the UK without our authorisation. Find out why you should be wary...

Get the latest from Regulatory.News in your inbox!

×