Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 J... (32014R0909)
Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation (EU) No 236/2012 Text with EEA relevance
- REGULATION (EU) No 909/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL
- of 23 July 2014
- on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation (EU) No 236/2012
- (Text with EEA relevance)
- TITLE I
- SUBJECT MATTER, SCOPE AND DEFINITIONS
- Article 1
- Subject matter and scope
- Article 2
- Definitions
- TITLE II
- SECURITIES SETTLEMENT
- CHAPTER I
- Book-entry form
- Article 3
- Book-entry form
- Article 4
- Enforcement
- CHAPTER II
- Settlement periods
- Article 5
- Intended settlement date
- CHAPTER III
- Settlement discipline
- Article 6
- Measures to prevent settlement fails
- Article 7
- Measures to address settlement fails
- Article 8
- Enforcement
- CHAPTER IV
- Internalised settlement
- Article 9
- Settlement internalisers
- TITLE III
- CENTRAL SECURITIES DEPOSITORIES
- CHAPTER I
- Authorisation and supervision of CSDs
- Section 1
- Authorities responsible for authorisation and supervision of CSDs
- Article 10
- Competent authority
- Article 11
- Designation of the competent authority
- Article 12
- Relevant authorities
- Article 13
- Exchange of information
- Article 14
- Cooperation between authorities
- Article 15
- Emergency situations
- Section 2
- Conditions and procedures for authorisation of CSDs
- Article 16
- Authorisation of a CSD
- Article 17
- Procedure for granting authorisation
- Article 18
- Effects of the authorisation
- Article 19
- Extension and outsourcing of activities and services
- Article 20
- Withdrawal of authorisation
- Article 21
- CSD register
- Section 3
- Supervision of CSDs
- Article 22
- Review and evaluation
- Section 4
- Provision of services in another member state
- Article 23
- Freedom to provide services in another Member State
- Article 24
- Cooperation between authorities of the home Member State and of the host Member State and peer review
- Section 5
- Relations with third countries
- Article 25
- Third countries
- CHAPTER II
- Requirements for CSDs
- Section 1
- Organisational requirements
- Article 26
- General provisions
- Article 27
- Senior management, management body and shareholders
- Article 28
- User committee
- Article 29
- Record keeping
- Article 30
- Outsourcing
- Article 31
- Services provided by parties other than CSDs
- Section 2
- Conduct of business rules
- Article 32
- General provisions
- Article 33
- Requirements for participation
- Article 34
- Transparency
- Article 35
- Communication procedures with participants and other market infrastructures
- Section 3
- Requirements for CSD services
- Article 36
- General provisions
- Article 37
- Integrity of the issue
- Article 38
- Protection of securities of participants and those of their clients
- Article 39
- Settlement finality
- Article 40
- Cash settlement
- Article 41
- Participant default rules and procedures
- Section 4
- Prudential requirements
- Article 42
- General requirements
- Article 43
- Legal risks
- Article 44
- General business risk
- Article 45
- Operational risks
- Article 46
- Investment policy
- Article 47
- Capital requirements
- Section 5
- Requirements for CSD links
- Article 48
- CSD links
- CHAPTER III
- Access to CSDs
- Section 1
- Access of issuers to CSDs
- Article 49
- Freedom to issue in a CSD authorised in the Union
- Section 2
- Access between CSDs
- Article 50
- Standard link access
- Article 51
- Customised link access
- Article 52
- Procedure for CSD links
- Section 3
- Access between a CSD and another market infrastructure
- Article 53
- Access between a CSD and another market infrastructure
- TITLE IV
- PROVISION OF BANKING-TYPE ANCILLARY SERVICES FOR CSD PARTICIPANTS
- Article 54
- Authorisation and designation to provide banking-type ancillary services
- Article 55
- Procedure for granting and refusing authorisation to provide banking-type ancillary services
- Article 56
- Extension of the banking-type ancillary services
- Article 57
- Withdrawal of authorisation
- Article 58
- CSD register
- Article 59
- Prudential requirements applicable to credit institutions or CSDs authorised to provide banking-type ancillary services
- Article 60
- Supervision of designated credit institutions and CSDs authorised to provide banking-type ancillary services
- TITLE V
- SANCTIONS
- Article 61
- Administrative sanctions and other measures
- Article 62
- Publication of decisions
- Article 63
- Sanctions for infringements
- Article 64
- Effective application of sanctions
- Article 65
- Reporting of infringements
- Article 66
- Right of appeal
- TITLE VI
- DELEGATION OF POWER, IMPLEMENTING POWERS, TRANSITIONAL, AMENDING AND FINAL PROVISIONS
- Article 67
- Exercise of the delegation
- Article 68
- Committee procedure
- Article 69
- Transitional provisions
- Article 70
- Amendments to Directive 98/26/EC
- Article 71
- Amendments to Directive 2014/65/EU
- Article 72
- Amendment to Regulation (EU) No 236/2012
- Article 73
- Application of Directive 2014/65/EU and Regulation (EU) No 600/2014
- Article 74
- Reports
- Article 75
- Review
- Article 76
- Entry into force and application
- ANNEX
- LIST OF SERVICES
- SECTION A
- Core services of central securities depositories
- SECTION B
- Non-banking-type ancillary services of CSDs that do not entail credit or liquidity risks
- SECTION C
- Banking-type ancillary services
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