The Council of the EU has published the text of the proposed Regulation on improving securities settlement and central securities depositaries (CSDs). The publication of the text is in advance of the Council’s formal adoption of the Regulation.
The Council has also published an “I/A item” note which contains a statement by Finland and a joint statement by Belgium, Germany and Luxembourg concerning the adoption of the Regulation. The joint statement indicates that the signatories are concerned that, in the absence of unanimous agreement, the text of the political agreement between the European Parliament and the Council must remain unchanged, which has not been complied with in regard to the Regulation.
