Europe – Page 9 – Global Investment Law Watch

Europe: Has the New CSDR Penalties Regime Escaped Your Notice?

Feb 25 2022

The Central Securities Depositaries Regulation (CSDR) originally entered into force in the EU on 17 September 2014, aiming to harmonise timing and standards of conduct in the EEA’s securities settlement industry. It introduced measures for the authorisation and regulation of EEA central securities depositaries (CSDs).

While much of the regulation focuses on prudential, organisational and business standards of CSDs, some of its requirements directly affect trading entities that settle trades on EEA CSDs. These include measures to address and prevent settlement fails and improve settlement discipline, which became effective on 1 February 2022.

Australia: A Proxy Advice Regulation Rollercoaster

Feb 16 2022

By: Jim Bulling and Phoebe Naylor

Controversial regulations seeking to govern the provision of proxy advice services were introduced by the Government in late December 2021. The Treasury Laws Amendment (Greater Transparency of Proxy Advice) Regulations 2021 (the Regulations) introduced a definition of “proxy advice” and prescribed it as a financial service. In summary, proxy advice was defined as an offer of voting recommendations to specified entities, in relation to the exercise of their voting rights attached to securities or interests.

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