The European Commission has published a letter to the European Securities and Markets Authority (ESMA) setting out a provisional request for technical advice concerning possible delegated acts relating to certain settlement discipline measures and aspects relating to supervisory co-operation under the proposed Regulation on improving securities settlement and regulating central securities depositories (CSDR).
The letter attaches two formal mandates for technical advice to assist the Commission in preparing delegated acts as required by the following provisions of the CSDR:
- penalties for settlement fails; and
- supervisory co-operation.
The Commission requests ESMA to provide its technical advice nine months after the CSDR enters into force.
View Provisional request for ESMA technical advice on possible delegated acts concerning the Regulation on improving securities settlement in the European Union and on central securities depositories, 23 June 2014