ISLA, ICMA and ISDA are among 14 trade bodies to renew calls for the buy-ins rules to be shelved until "essential" amendments are in place and give in-scope entities more time to prepare
The review, which will remain open until 5 April, will assess how the EU rules on central securities depositories are working
As the first buy-in messages ever to be registered, they set the reporting standard, developed from scratch in ISO20022, KDPW says
“The periods of high volatility and low liquidity observed during COVID-19 crisis would have been further exacerbated by the existence of a mandatory buy-in regime,” AFME explains
To avoid damaging market liquidity and stability, the trade body suggests the CSDR settlement discipline regime should be split in two, with cash penalties going live in February and the buy-ins held pending a “in-depth assessment"
EACH explains that a delay to CSDR’s SDR would provide market infrastructures and other market participants sufficient time to implement and would also avoid unnecessary duplicative implementation costs
ICMA has presented a ‘waterfall’ of proposals for implementing the SDR, based on its members’ assessment of what it considers most optimal in terms of minimising disruption to Europe’s bonds markets while still attaining the objectives of CSDR
The FCA has confirmed the final reporting rules post-Brexit but says it will not fine non-compliant firms that can show their homework
Asset Servicing Times' panel discussion on Accelerated Settlement examining the US and Canadian transition to T+1 securities settlement scheduled for May 2024
Industry experts share their early assessment of the CSDR settlement failure penalties regime and how it has affected the industry since its implementation in February
Brian Bollen asks industry experts their thoughts on the delayed implementation of CSDR’s buy-in rules and the best game plan to bring to the regulatory playing field
Eliane Meziani, senior advisor and Rodolphe Carissimo, advisor for CACEIS public affairs talk to Jenna Lomax about the postponement of the CSDR mandatory buy-in rulings and why the market requires and deserves due time to prepare for it
Derek Coyle of Brown Brothers Harriman discusses the potential impacts that CSDR will have on custody markets and how firms can best prepare themselves for the upcoming regulation
As firms continue to juggle innovation, customer loyalty and deal with the complexity of regulatory change, Broadridge’s Philip Taliaferro discusses regulatory challenges for the year ahead
Deutsche Bank’s Emma Johnson and Mike Clarke share how, in the changing regulatory landscape, technology can enable compliance and deliver better outcomes for clients
Daniel Carpenter, head of regulation at Meritsoft, discusses the challenges of CSDR and how Meritsoft is helping its clients to prepare for it
Experts say DLT has the potential to open the floor to all kinds of innovations if it can become a regulatory and legally integral part of Germany’s business
