CSDR - SDR: 31 August 2024: End of CCPs' role in collecting penalties

In April 2023, the European Commission (EC) adopted an evolution of the text allowing the application of a single process for all penalties***.

The period of non-objection has just ended. The text (2023/1626) therefore becomes official (publication in the OJ of the Union on 11 August 2023) and enters into force on 31 August 2023 for implementation one year later (31 August 2024).

Commission Delegated Regulation (EU) 2023/... of 19 April 2023 on amending the regulatory technical standards laid down in Delegated Regulation (EU) 2018/1229 as regards the penalty mechanism for settlement fails relating to cleared transactions submitted by CCPs for settlement (europa.eu)

*CCP: Central Counterparty
**CSD: Central Securities Depository
***Read our related Flash News: CSDR – SDR: Role of CCPs in collecting penalties