+Article 19 4.

Article 19 4.

The authorities referred to in paragraph 3 shall refuse to authorise a link only where such a CSD link would threaten the smooth and orderly functioning of the financial markets or cause systemic risk.

1. Overview

Summary	Regulation

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements
Source	Requirement

3. Related Standards

Standards
Source	Requirement

Builddate: 17.01.2026 00:00:00 -Doknr: CELEX:32014R0909
EULAW -
European Regulation published on http://eur-lex.europa.eu/