Targeted consultation on the review of Regulation on improving securities settlement in the European Union and on central securities depositories

Target group

In this targeted consultation, the Commission is interested in the views of a wide range of stakeholders, in particular those participating in the settlement process (e.g. CSDs, issuers, participants in securities settlement systems, CCPs, fund managers, investors), organisations representing the interests of stakeholders participating in the settlement process, Member States’ authorities, EU institutions and authorities as well as academics.

Objective of the consultation

Regulation (EU) No 909/2014 on central securities depositories (‘CSDR’) aims at increasing the safety and improving settlement efficiency as well as providing a set of common requirements to ensure the safety of EU CSDs. CSDR requires the Commission to prepare a report on its implementation and submit it to the European Parliament and the Council, if necessary with proposed legislative changes. With this targeted consultation, the European Commission invites stakeholders to provide input on the implementation of CSDR in view of its forthcoming report.

The consultation seeks feedback on a wide range of specific areas where targeted action may be necessary to ensure the fulfilment of the objectives of CSDR in a more proportionate, efficient and effective manner. Recent developments, in particular the pressure put on markets by the COVID-19 pandemic, should also be taken into account, where relevant, when responding to the consultation.

How to submit your response

Please note that in order to ensure a fair and transparent consultation process responses should be submitted through the online questionnaire.

Consultation outcome

Summary report

Contributions to the consultation

Reference documents

Contact

fisma-csdr-reviewec [dot] europa [dot] eu (Contact email address: fisma-csdr-review[at]ec[dot]europa[dot]eu)