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CSDR

Regulation (EU) No 909/2014 on improving securities settlement and on central securities depositories
32014R0909 · official text on EUR-Lex

Articles

• Article 1 — Subject matter and scope
• Article 2 — Definitions

Chapter I Book-entry form

• Article 3 — Book-entry form
• Article 4 — Enforcement

Chapter II Settlement periods

• Article 5 — Intended settlement date

Chapter III Settlement discipline

• Article 6 — Measures to prevent settlement fails
• Article 7 — Measures to address settlement fails
• Article 8 — Enforcement

Chapter IV Internalised settlement

• Article 9 — Settlement internalisers

Chapter I Authorisation and supervision of CSDs

Section 1 Authorities responsible for authorisation and supervision of CSDs

• Article 10 — Competent authority
• Article 11 — Designation of the competent authority
• Article 12 — Relevant authorities
• Article 13 — Exchange of information
• Article 14 — Cooperation between authorities
• Article 15 — Emergency situations

Section 2 Conditions and procedures for authorisation of CSDs

• Article 16 — Authorisation of a CSD
• Article 17 — Procedure for granting authorisation
• Article 18 — Effects of the authorisation
• Article 19 — Extension and outsourcing of activities and services
• Article 20 — Withdrawal of authorisation
• Article 21 — CSD register

Section 3 Supervision of CSDs

• Article 22 — Review and evaluation

Section 4 Provision of services in another member state

• Article 23 — Freedom to provide services in another Member State
• Article 24 — Cooperation between authorities of the home Member State and of the host Member State and peer review

Section 5 Relations with third countries

• Article 25 — Third countries

Chapter II Requirements for CSDs

Section 1 Organisational requirements

• Article 26 — General provisions
• Article 27 — Senior management, management body and shareholders
• Article 28 — User committee
• Article 29 — Record keeping
• Article 30 — Outsourcing
• Article 31 — Services provided by parties other than CSDs

Section 2 Conduct of business rules

• Article 32 — General provisions
• Article 33 — Requirements for participation
• Article 34 — Transparency
• Article 35 — Communication procedures with participants and other market infrastructures

Section 3 Requirements for CSD services

• Article 36 — General provisions
• Article 37 — Integrity of the issue
• Article 38 — Protection of securities of participants and those of their clients
• Article 39 — Settlement finality
• Article 40 — Cash settlement
• Article 41 — Participant default rules and procedures

Section 4 Prudential requirements

• Article 42 — General requirements
• Article 43 — Legal risks
• Article 44 — General business risk
• Article 45 — Operational risks
• Article 46 — Investment policy
• Article 47 — Capital requirements

Section 5 Requirements for CSD links

• Article 48 — CSD links

Chapter III Access to CSDs

Section 1 Access of issuers to CSDs

• Article 49 — Freedom to issue in a CSD authorised in the Union

Section 2 Access between CSDs

• Article 50 — Standard link access
• Article 51 — Customised link access
• Article 52 — Procedure for CSD links

Section 3 Access between a CSD and another market infrastructure

• Article 53 — Access between a CSD and another market infrastructure
• Article 54 — Authorisation and designation to provide banking-type ancillary services
• Article 55 — Procedure for granting and refusing authorisation to provide banking-type ancillary services
• Article 56 — Extension of the banking-type ancillary services
• Article 57 — Withdrawal of authorisation
• Article 58 — CSD register
• Article 59 — Prudential requirements applicable to credit institutions or CSDs authorised to provide banking-type ancillary services
• Article 60 — Supervision of designated credit institutions and CSDs authorised to provide banking-type ancillary services
• Article 61 — Administrative sanctions and other measures
• Article 62 — Publication of decisions
• Article 63 — Sanctions for infringements
• Article 64 — Effective application of sanctions
• Article 65 — Reporting of infringements
• Article 66 — Right of appeal
• Article 67 — Exercise of the delegation
• Article 68 — Committee procedure
• Article 69 — Transitional provisions
• Article 70 — Amendments to Directive 98/26/EC
• Article 71 — Amendments to Directive 2014/65/EU
• Article 73 — Application of Directive 2014/65/EU and Regulation (EU) No 600/2014
• Article 74 — Reports
• Article 75 — Review
• Article 76 — Entry into force and application