Regulation (EU) No 909/2014 on central securities depositories (‘CSDR’) aims at increasing the safety and improving settlement efficiency as well as providing a set of common requirements to ensure the safety of EU CSDs. CSDR requires the Commission to prepare a report on its implementation and submit it to the European Parliament and the Council, if necessary with proposed legislative changes. With this targeted consultation, the European Commission invites stakeholders to provide input on the implementation of CSDR in view of its forthcoming report.

The consultation seeks feedback on a wide range of specific areas where targeted action may be necessary to ensure the fulfilment of the objectives of CSDR in a more proportionate, efficient and effective manner. Recent developments, in particular the pressure put on markets by the COVID-19 pandemic, should also be taken into account, where relevant, when responding to the consultation.