the Commission is interested in the views of a wide range of stakeholders, in particular those participating directly or indirectly in SFD designated systems (e.g. credit institutions, investment firms, public authorities, CCPs, system operators)...
In this targeted consultation, the Commission is interested in the
views of a wide range of stakeholders, in particular those participating
directly or indirectly in SFD designated systems (e.g. credit
institutions, investment firms, public authorities, CCPs, system
operators), those participating in third-country systems, system
operators of non-SFD designated systems, organisations representing the
interests of stakeholders participating in SFD designated systems,
payment institutions, e-money institutions, organisations representing
the interest of consumers (and their protection), Member States’
authorities, EU institutions and authorities as well as academics.
Objective of the consultation
The answers provided to this consultation of the Settlement Finality Directive (SFD)
will feed into a Commission report to the European Parliament and
Council. The current review covers a variety of issues that have come up
since the last review of the SFD which took place in 2008/2009. It
considers the impact of new developments in a changing business,
technological and regulatory environment.The SFD regulates and protects
designated securities settlement and payment systems. It guarantees that
transfer orders entered into such systems are also finally settled,
regardless of whether the sending participant has become insolvent.
How to submit your response
Please note that in order to ensure a fair and transparent
consultation process responses should be submitted through the online
questionnaire.
Reference documents
Consultation document: Review of the Directive on settlement finality in payment and securities settlement systems
European Commission
© European Commission
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