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ARTICLE · 12 FEBRUARY 2024

CSDR REFIT: The Key Changes

Norton Rose Fulbright Hong Kong
Explore more from Norton Rose Fulbright Hong Kong

The Central Securities Depositories Regulation (CSDR) is the European Union (EU) regulation relating to securities settlement and central securities depositaries (CSDs).

GlobalCorporate/Commercial Law
Floortje Nagelkerke
Floortje Nagelkerke
Hannah Meakin
Hannah Meakin
Anna Carrier
Anna Carrier
Sébastien Praicheux
Sébastien Praicheux
Simon Lovegrove
Simon Lovegrove

The Central Securities Depositories Regulation (CSDR) is the European Union (EU) regulation relating to securities settlement and central securities depositaries (CSDs). It applies to CSDs that are based in the EU and their participants.

The CSDR came into force on 17 September 2014 and many of its requirements were staggered. It standardises the requirements for the settlement of financial instruments and the rules on the organisation and conduct of CSDs to promote safe, efficient and smooth settlement. The regulation introduced shorter settlement periods, settlement discipline measures, organisational, conduct of business and prudential requirements for CSDs and provided for a passporting regime allowing authorised CSDs to provide their services across the EU.

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