The European Securities and Markets Authority (ESMA) has published its first set of Questions and Answers (Q&As) on the Regulation on improving securities settlement in the EU and on central securities depositories (the CSDR). The purpose of the Q&As is to promote common supervisory approaches and practices in the application of the CSDR. The Q&As are addressed to national competent authorities under the CSDR to ensure that in their supervisory activities their actions are converging along the lines of the responses adopted by ESMA.
The topics covered by the Q&As are:
- Ancillary service;
- Authorisation and supervision of central securities depositories;
- Organisational requirements;
- Record keeping;
- Conduct of business rules;
- Protection of securities of participants and those of their clients;
- Prudential requirements – operational risks; and
- Market infrastructures.
View ESMA publishes first set of CSDR Q&As, 13 March 2017