ECSDA updates the Settlement CSDR Penalties Framework
Today, 11 September 2024, ECSDA issues the update of the ECSDA CSDR Penalties Framework.
This version of the document reflects the implementation of the amendment of Article 19 CSDR SDR concerning the collection and redistribution of penalties. As per such amendment, the process applied to non-cleared transactions will now also be applied to cleared ones. ECSDA is pleased to have been able to implement a legislative change allowing for a single regime applicable to both cleared and non-cleared transactions as a result of the thorough discussions with the authorities and CCPs.
The changes in the document are highlighted in light grey, and are mostly covering the removal of specific treatment of cleared transactions.