Brexit: ESMA ready to recognise UK CSD

European Commission has published today a communication, allowing ESMA to recognise, on the temporary and conditional basis, the UK CSD in case of Brexit no deal. ESMA expressed its support to this decision.

In more detail:

ECSDA appreciated the publication by the European Commission of the communication for Brexit no-deal contingency plan, as issued on the Commission website.

We also note that ESMA Board of Supervisors expressed support to “continued access to the UK Central Securities Depository (CSD), in order to allow the UK CSD to serve Irish securities and to avoid any negative impact on the Irish securities market.” For more please see ESMA website.