ESMA updated its question and answer (Q&A) document on the implementation of the Central Securities Depository Regulation (CSDR). This update provides detailed answers on certain aspects of relevant authorities, conduct of business rules, protection of securities, and prudential requirements on operational risk.
CSDR is intended to harmonize 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. The CSDR Q&A provide common answers to questions regarding practical issues on the implementation of the new CSDR regime. Q&A are intended to promote common supervisory approaches and practices in the application of CSDR. The aim is to ensure that national competent authorities in their CSDR supervisory activities are converging along the lines of the responses adopted by ESMA.
Keywords: Europe, EU, Securities, CSDR, CSD, Q&A, ESMA