Regulation 909/2014/EU - Central Securities Depositories Regulation (CSDR)

Version status: Applicable | Document consolidation status: Updated to reflect all known changes

Published date: 28 August 2014

Regulation 909/2014/EU - Central Securities Depositories Regulation (CSDR)

	Recitals
	Title I Subject Matter, Scope and Definitions (arts. 1-2)
	Article 1 Subject matter and scope
	Article 2 Definitions
	Title II Securities settlement (arts. 3-9)
	Chapter I Book-entry form (arts. 3-4)
	Article 3 Book-entry form
	Article 4 Enforcement
	Chapter II Settlement periods (art. 5)
	Article 5 Intended settlement date
	Chapter III Settlement discipline (arts. 6-8)
	Article 6 Measures to prevent settlement fails
	Article 7 Measures to address settlement fails
	Article 7a Mandatory buy-in process
	Article 8 Enforcement
	Chapter IV Internalised settlement (art. 9)
	Article 9 Settlement internalisers
	Title III Central securities depositories (arts. 10-53)
	Chapter I Authorisation and supervision of CSDs (arts. 10-25)
	Section 1 Authorities responsible for authorisation and supervision of CSDs (arts. 10-15)
	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 (arts. 16-21)
	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 (art. 22 and draft art. 22a)
	Article 22 Review and evaluation
	Article 22a Plans for recovery and orderly wind-down
	Section 4 Provision of services in another member state (arts. 23-24 and draft art. 24a)
	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
	Article 24a College of supervisors
	Section 5 Relations with third countries (art. 25)
	Article 25 Third countries
	Chapter II Requirements for CSDs (arts. 26-48)
	Section 1 Organisational requirements (arts. 26-31)
	Article 26 General provisions
	Article 27 Senior management, management body and shareholders
	Article 27a Information to competent authorities
	Article 27b Assessment
	Article 27c Derogation for CSDs providing banking-type ancillary services
	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 (arts. 32-35)
	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 (arts. 36-41)
	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 (arts. 42-47 and draft art. 47a)
	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
	Article 47a Deferred net settlement
	Section 5 Requirements for CSD links (art. 48)
	Article 48 CSD links
	Chapter III Access to CSDs (arts. 49-53)
	Section 1 Access of issuers to CSDs (art. 49)
	Article 49 Freedom to issue in a CSD authorised in the Union
	Section 2 Access between CSDs (arts. 50-52)
	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 (art. 53)
	Article 53 Access between a CSD and another market infrastructure
	Title IV Provision of banking-type ancillary services for CSD participants (arts. 54-60)
	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
	Title V Sanctions (arts. 61-66)
	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
	Title VI Delegation of Power, Implementing Powers, Transitional, Amending and Final Provisions (arts. 67-76)
	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 72 Amendment to Regulation (EU) No 236/2012
	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
	Annex - List of services
	Annex, Section A Core services of central securities depositories
	Annex, Section B Non-banking-type ancillary services of CSDs that do not entail credit or liquidity risks
	Annex, Section C Banking-type ancillary services
	Done at