Today, ECSDA responded to the EU conflicts of law consultation. The legal certainty of securities settlement and holdings is of utmost importance for the resilience of CSDs’ ecosystems and the safety of their operations. For this reason, European CSDs have contributed to the creation of conflict of laws rules carefully crafted to address the special needs of securities settlement systems. ECSDA would like the legislators to ensure that the certainty provided by these rules is not altered in any new pieces of law. Continue reading
ECSDA responds to the European Commission’s consultation on FinTech
In its response, ECSDA expresses its support of technological innovation, including in the areas directly linked to CSD activities. ECSDA notes that due to the competing priorities of reducing costs, responding to margin pressure and the needs of a single access point, the borders between different business models in financial and other markets are likely to be blurred. At the same time, the need for a regulated entity which provides fundamentally important services for the economy is only likely to be enhanced. Continue reading
ECSDA appoints Anna Kulik as new Secretary General
The European Central Securities Depositories Association (ECSDA) has appointed Anna Kulik as Secretary General. Ms Kulik takes over the role with immediate effect, following Soraya Belghazi, and will be the new face of European CSDs. Continue reading