ESMA provides guidelines for supervisory cooperation regarding CSDs
The European Securities and Markets Authority (ESMA) has today published its guidelines regarding the cooperation between authorities under the Central Securities Depositories Regulation (CSDR).
The purpose of the guidelines is to ensure consistent, efficient and effective supervisory practices within the EU in respect of cooperation arrangements between supervisory authorities for:
- the consultation of authorities involved in the procedure for authorising central securities depositories (CSD) under the CSDR; and
- the communication between the home and host authorities in relation to a CSD wishing to provide cross-border services.
Competent authorities to which these guidelines apply must notify ESMA whether or not they plan to comply with the guidelines, with reasons for non-compliance, within two months of the date of their publication on ESMA’s website in all EU official languages.