The European Commission has published a memo containing FAQs concerning the draft Regulation on improving securities settlement and central securities depositories (the CSD Regulation). The draft CSD Regulation has recently been approved by the European Parliament in plenary session but needs to be formally adopted by the Council of the EU and then published in the Official Journal of the EU.

The FAQs cover a number of issues relating to the CSD Regulation including its relationship with the TARGET2 securities project and other legislative acts like the European Market Infrastructure Regulation and the revision to the Markets in Financial Instruments Directive. The FAQs also discuss dematerialisation of securities, the provision of services by central securities depositories (CSDs) in the EU and the impact on third country CSDs.

View Regulation on securities settlement and on central securities depositories in the EU – frequently asked questions, 16 April 2014