Featured Product

    ESMA Issues Guidelines on Internalized Settlement Reporting Under CSDR

    March 28, 2018

    ESMA published its final guidelines on how to report internalized settlement under the Central Securities Depositories Regulation (CSDR). Entities such as investment firms and credit institutions, who are providing custody/safekeeping services in relation to financial instruments recorded in a CSD, can settle transactions in those financial instruments outside the securities settlement systems operated by CSDs, but need to report them to the national competent authorities, starting on July 12, 2019.

    The guidelines clarify the scope and process of internalized settlement reporting as well as the exchange of information between ESMA and  national competent authorities, who will receive the data from reporting entities. The guidelines will apply from the date of their publication on the ESMA website in all official languages of the EU. Within two months of the publication, the national competent authorities will have to inform ESMA whether or not they intend to comply with these guidelines.

    ESMA had published, in July 2017, a consultation paper on the guidelines on internalized settlement reporting under CSDR. The consultation closed on September 14, 2017 and ESMA received 16 responses, mostly from banking and investment firm associations. ESMA had also sought the advice of the Securities and Markets Stakeholder Group (SMSG). This consultation paper summarizes and analyzes the responses received, also explaining how the feedback has been incorporated. 

     

    Related Links

    Keywords: Europe, EU, Securities, Internalized Settlement, Reporting, CSDR, ESMA

    Featured Experts
    Related Articles
    News

    BCBS Consults on Revised Disclosures for Market Risk Framework

    BCBS launched a consultation on the revised disclosure requirements for the market risk framework for banks.

    November 14, 2019 WebPage Regulatory News
    News

    FSB Examines Implementation of Resolution Regimes in Financial Sector

    FSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions and sets out plans for further work.

    November 14, 2019 WebPage Regulatory News
    News

    PRA Publishes Final Policy on Maintenance of TMTP Under Solvency II

    PRA published the policy statement (PS25/19) that contains the final supervisory statement (SS6/16) on maintenance of the transitional measure on technical provisions (TMTPs) under Solvency II.

    November 14, 2019 WebPage Regulatory News
    News

    BCBS Consults on Disclosure Templates of Sovereign Exposures of Banks

    BCBS published a consultation on the voluntary disclosure templates related to sovereign exposures of banks.

    November 14, 2019 WebPage Regulatory News
    News

    IAIS Adopts ComFrame, ICS, and Holistic Framework for Systemic Risk

    IAIS adopted a comprehensive set of reforms—Common Framework (ComFrame), Insurance Capital Standard (ICS) Version 2.0, and Holistic Framework for Systemic Risk—that will enable effective cross-border supervision of insurance groups and contribute to global financial stability.

    November 14, 2019 WebPage Regulatory News
    News

    PRA Publishes Templates for Statistical Disclosures Under Solvency II

    PRA published templates for statistical disclosures, as required under Article 31(2) of the Solvency II Directive.

    November 14, 2019 WebPage Regulatory News
    News

    FASB Proposes Improvements to Derivatives and Hedging Standard

    FASB proposed an Accounting Standards Update, on codification improvements to hedge accounting under Topic 815, to clarify certain sections of the 2017 hedge accounting standard (Update 2017-12).

    November 13, 2019 WebPage Regulatory News
    News

    FASB Approves Guidance to Assist in Transition to New Reference Rates

    FASB approved an Accounting Standards Update (Topic 848) to provide temporary, optional guidance to ease the potential burden in accounting for, or recognizing the effects of, the reference rate reform on financial reporting.

    November 13, 2019 WebPage Regulatory News
    News

    BIS and MAS Launch Innovation Hub in Singapore

    BIS and MAS launched the BIS Innovation Hub Center in Singapore.

    November 13, 2019 WebPage Regulatory News
    News

    MAS and Industry to Create Framework for Adoption of Responsible AIDA

    MAS announced that it is working with financial industry partners to create a framework for financial institutions to promote the responsible adoption of Artificial Intelligence and Data Analytics (AIDA).

    November 13, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 4142