ARTICLE · 08 JANUARY 2024

CSDR: Targeted Reforms Published In Official Journal / Looking Ahead To 2024

Arthur Cox

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The planned reforms to the Central Securities Depositories Regulation (CSDR) were published in the Official Journal on 27 December 2023...

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The planned reforms to the Central Securities Depositories Regulation (CSDR) were published in the Official Journal on 27 December 2023 (Regulation (EU) 2023/2845). Most of the reforms take effect from 16 January 2024, with a limited number taking effect from 1 May 2024 and 17 January 2026.

Our previous insights on the European Commission's May 2022 proposals to revise CSDR, and the provisional political agreement reached in June 2023, are here:

CSDR: Commission proposes targeted changes; Article 3 dematerialisation deadline looms (May 2022)

CSDR: Provisional agreement reached on planned changes (June 2023)

While the reforms cover matters such as passporting, new colleges of supervisors and banking-type ancillary services (detailed in our May 2022 insights), the key focus area has been settlement efficiency and mandatory buy-ins.

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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