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ESMA updates its CSDR Q&A

14 December 2017

The European Securities and Markets Authority (ESMA) has published today an update of its Questions and Answers (Q&As) regarding the implementation of the Central Securities Depository Regulation (CSDR).   

The CSDR Q&As provide common answers to question regarding practical issues on the implementation of the new CSDR regime. The new Q&As cover updates on organisational requirements regarding membership of user committee and record keeping requirements in respect of settlement banks.

 Q&As are an important tool to promote common supervisory approaches and practices in the application of CSDR The content of this document is aimed at competent authorities under the Regulation to ensure that in their supervisory activities, their actions are converging along the lines of the responses adopted by ESMA. It should also help investors and other market participants by providing clarity on the CSDR requirements.

 The aim of CSDR is to harmonise certain aspects of the settlement cycle and settlement discipline and to provide a set of common requirements for CSDs operating securities settlement systems across the EU.