ESMA_QA_1232
Topic
CSD questions - Organisational requirements (governance arrangements, record keeping, outsourcing, user committee)
26/09/2018
Subject Matter
Organisational requirements: general
Question
(a) Can a CSD have a combined audit and risk committee?
(b) Should each of the risk, audit and remuneration committees be composed of entirely different members?
(c) Which information is a CSD required to submit about changes in its management (board members and CEO)?
(d) Article 27(2) of CSDR requires that “at least one third, but no less than two, of [the] members [of the management body] are independent”. What does “independent” mean in respect of members of the management body?
(e) Are there any staff or category of staff that a CSD may not share with another entity of the same group of companies?
(f) Is a direct contractual relationship between a CSD and a member of a user committee of a securities settlement system operated by that CSD mandatory?
(g) Could a CSD share its risk monitoring committees (Article 48 of the RTS on CSD Requirements) with other entities of the same group?
(h) Could risk monitoring committees of CSDs belonging to the same group have identical memberships?
(i) Which services or activities of a CSD are in the scope of Article 30 of CSDR (Outsourcing)?
(b) Should each of the risk, audit and remuneration committees be composed of entirely different members?
(c) Which information is a CSD required to submit about changes in its management (board members and CEO)?
(d) Article 27(2) of CSDR requires that “at least one third, but no less than two, of [the] members [of the management body] are independent”. What does “independent” mean in respect of members of the management body?
(e) Are there any staff or category of staff that a CSD may not share with another entity of the same group of companies?
(f) Is a direct contractual relationship between a CSD and a member of a user committee of a securities settlement system operated by that CSD mandatory?
(g) Could a CSD share its risk monitoring committees (Article 48 of the RTS on CSD Requirements) with other entities of the same group?
(h) Could risk monitoring committees of CSDs belonging to the same group have identical memberships?
(i) Which services or activities of a CSD are in the scope of Article 30 of CSDR (Outsourcing)?
Level 1 Regulation
Central Securities Depositories Regulation (CSDR) Regulation (EU) No 909/2014- PTR- CSDR