ESMA recommends delaying buy-in rules
27 September 2021 Germany
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The European Securities and Markets Authority has recommended a delay in buy-in rules to the European Commission (EC).
The legislation proposal for the review of the Central Securities Depositories Regulation (CSDR) is not expected before the end of the year, including possible changes to the buy-in regime.
ESMA is in favour of delaying the entry into force of the buy-in requirements, which are scheduled on 1 February 2022, while applying the other settlement discipline requirements, such as settlement fails reporting and cash penalties regime, as planned.
The EU securities market regulator considers it crucial that the EC and the co-legislators clarify their political intentions around the review of the settlement discipline regime and consider whether to postpone the buy-in regime implementation as soon as possible.
The legislation proposal for the review of the Central Securities Depositories Regulation (CSDR) is not expected before the end of the year, including possible changes to the buy-in regime.
ESMA is in favour of delaying the entry into force of the buy-in requirements, which are scheduled on 1 February 2022, while applying the other settlement discipline requirements, such as settlement fails reporting and cash penalties regime, as planned.
The EU securities market regulator considers it crucial that the EC and the co-legislators clarify their political intentions around the review of the settlement discipline regime and consider whether to postpone the buy-in regime implementation as soon as possible.
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