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Regulation 909/2014/EU - Central Securities Depositories Regulation (CSDR) (Assimilated Law)RecitalsTitle I Subject Matter, Scope and Definitions (arts. 1-2)Article 1 Subject matter and scopeArticle 2 DefinitionsTitle II Securities settlement (arts. 3-9)Chapter I Book-entry form (arts. 3-4)Article 3 Book-entry formArticle 4 EnforcementChapter II Settlement periods (art. 5)Article 5 Intended settlement dateChapter III Settlement discipline (arts. 6-8)Article 6 Measures to prevent settlement failsArticle 7 Measures to address settlement failsArticle 8 EnforcementChapter IV Internalised settlement (art. 9)Article 9 Settlement internalisersTitle 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 authorityArticle 11 Designation of the competent authorityArticle 12 Relevant authoritiesArticle 13 Exchange of informationArticle 14 Cooperation between authoritiesArticle 15 Emergency situationsSection 2 Conditions and procedures for authorisation of CSDs (arts. 16-21)Article 16 Authorisation of a CSDArticle 17 Procedure for granting authorisationArticle 18 Effects of the authorisationArticle 19 Extension and outsourcing of activities and servicesArticle 20 Withdrawal of authorisationArticle 21 CSD registerSection 3 Supervision of CSDs (art. 22)Article 22 Review and evaluationSection 4 Provision of services in another member state (arts. 23-24)Article 23 Freedom to provide services in another Member StateArticle 24 Cooperation between authorities of the home Member State and of the host Member State and peer reviewSection 5 Relations with third countries (art. 25)Article 25 Third countriesChapter II Requirements for CSDs (arts. 26-48)Section 1 Organisational requirements (arts. 26-31)Article 26 General provisionsArticle 27 Senior management, management body and shareholdersArticle 28 User committeeArticle 29 Record keepingArticle 30 OutsourcingArticle 31 Services provided by parties other than CSDsSection 2 Conduct of business rules (arts. 32-35)Article 32 General provisionsArticle 33 Requirements for participationArticle 34 TransparencyArticle 35 Communication procedures with participants and other market infrastructuresSection 3 Requirements for CSD services (arts. 36-41)Article 36 General provisionsArticle 37 Integrity of the issueArticle 38 Protection of securities of participants and those of their clientsArticle 39 Settlement finalityArticle 40 Cash settlementArticle 41 Participant default rules and proceduresSection 4 Prudential requirements (arts. 42-47)Article 42 General requirementsArticle 43 Legal risksArticle 44 General business riskArticle 45 Operational risksArticle 46 Investment policyArticle 47 Capital requirementsSection 5 Requirements for CSD links (art. 48)Article 48 CSD linksChapter III Access to CSDs (arts. 49-53)Section 1 Access of issuers to CSDs or third-country CSDs (art. 49)Article 49 Freedom to issue in a CSD or third-country CSDSection 2 Access between CSDs and between CSDs and third-country CSDs (arts. 50-52)Article 50 Standard link accessArticle 51 Customised link accessArticle 52 Procedure for CSD linksSection 3 Access between a CSD or third-country CSD and another market infrastructure (art. 53)Article 53 Access between a CSD or third-country CSD and another market infrastructureTitle IV Provision of banking-type ancillary services for CSD participants (arts. 54-60)Article 54 Authorisation and designation to provide banking-type ancillary servicesArticle 55 Procedure for granting and refusing authorisation to provide banking-type ancillary servicesArticle 56 Extension of the banking-type ancillary servicesArticle 57 Withdrawal of authorisationArticle 58 CSD registerArticle 59 Prudential requirements applicable to credit institutions or CSDs authorised to provide banking-type ancillary servicesArticle 60 Supervision of designated credit institutions and CSDs authorised to provide banking-type ancillary servicesTitle V Sanctions (arts. 61-66)Article 61 Administrative sanctions and other measuresArticle 62 Publication of decisionsArticle 63 Sanctions for infringementsArticle 64 Effective application of sanctionsArticle 65 Reporting of infringementsArticle 66 Right of appealTitle VI Regulations, Transitional and Final Provisions (arts. 67-76)Article 67 RegulationsArticle 68 Committee procedureArticle 69 Transitional provisionsArticle 70 Amendments to Directive 98/26/ECArticle 71 Amendments to Directive 2014/65/EUArticle 72 Amendment to Regulation (EU) No 236/2012Article 73 Application of the UK law on markets in financial instruments and Regulation (EU) No 600/2014Article 74 ReportsArticle 75 ReviewArticle 76 Entry into force and applicationAnnex - List of servicesAnnex, Section A Core services of central securities depositoriesAnnex, Section B Non-banking-type ancillary services of CSDs that do not entail credit or liquidity risksAnnex, Section C Banking-type ancillary servicesDone at
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Version status: In force | Document consolidation status: Assimilated law updated to reflect all known changes
Published date: 28 August 2014

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

There are amendments requiring commencement for this document.
Would you like to incorporate these changes?
⚠

To be revoked by s. 1 and Sch. 1 Pt 1 to the Financial Services and Markets Act 2023 (c. 29) (FSMA 2023), Sch. 1 Pt 1 not yet fully commenced.

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 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)
Article 22 Review and evaluation
Section 4 Provision of services in another member state (arts. 23-24)
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 (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 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)
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 (art. 48)
Article 48 CSD links
Chapter III Access to CSDs (arts. 49-53)
Section 1 Access of issuers to CSDs or third-country CSDs (art. 49)
Article 49 Freedom to issue in a CSD or third-country CSD
Section 2 Access between CSDs and between CSDs and third-country 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 or third-country CSD and another market infrastructure (art. 53)
Article 53 Access between a CSD or third-country 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 Regulations, Transitional and Final Provisions (arts. 67-76)
Article 67 Regulations
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 the UK law on markets in financial instruments 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
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