argomento: News del mese - Diritto Internazionale e Comunitario

Articoli Correlati: ESMA - CSDs - ESMA reports

On November 5^th, 2020, the European Securities and Markets Authority (ESMA) issued two reports on the implementation of the Central Securities Depositories Regulation (CSDR) that addressed different issues such as central securities depositories’ (CSDs), cross-border services and handling of applications and settlements. For what concerns the Report on cross-border services and handling of applications, it gathers data on services by CSDs in other Member States and on the responses to the ESMA survey for NCAs, CSDR relevant authorities and trade associations that was distributed this summer. Specifically, the CSDs’ cross-border activity has been measured with the study of the connections between European Economic Area (EEA) CSDs and the services for participants and issuers from other Member States. There was found that there were no major variations in the provision of cross-border services since the entry into force of CSDR, but most respondents foresee a possible increase for the years to come. They have also addressed challenges, specifically connected to the application process to provide notary and central maintenance services in relation to securities constituted under the laws of other Member States.