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ECSDA, the European Central Securities Depositories Association, has released an updated version of its Central Securities Depositories Regulation (CSDR) settlement fails penalty framework.
This framework is the product of efforts across ECSDA’s membership to align with CSDR requirements and to harmonise settlement penalty applications for CSDs subject to this regulation and its regulatory technical standards on settlement discipline.
This document highlights changes from the preceding version and marks up assumptions that are currently awaiting feedback from the European Securities Market Authority and the European Commission.
ECSDA also releases regular public updates on the current state of implementation of the CSDR settlement discipline regime based on information collected from its membership by questionnaire.
