+TITLE VI DELEGATION OF POWER, IMPLEMENTING POWERS, TRANSITIONAL, AMENDING AND FINAL PROVISIONS
---+Article 67 Exercise of the delegation
------+Article 67 1.
------+Article 67 2.
------+Article 67 2a.
------+Article 67 3.
------+Article 67 4.
------+Article 67 5.
---+Article 68 Committee procedure
------+Article 68 1.
------+Article 68 2.
------+Article 68 3.
---+Article 69 Transitional provisions
------+Article 69 1.
------+Article 69 2.
------+Article 69 3.
------+Article 69 4.
------+Article 69 4a.
------+Article 69 4b.
------+Article 69 4c.
------+Article 69 5.
------+Article 69 6.
------+Article 69 7.
------+Article 69 8.
---+Article 70 Amendments to Directive 98/26/EC
---+Article 71 Amendments to Directive 2014/65/EU
---+Article 73 Application of Directive 2014/65/EU and Regulation (EU) No 600/2014
---+Article 74 Reports
------+Article 74 1.
------+Article 74 2.
------+Article 74 3.
------+Article 74 4.
------+Article 74 5.
------+Article 74 6.
------+Article 74 7.
---+Article 75 Review
---+Article 76 Entry into force and application
------+Article 76 1.
------+Article 76 2.
------+Article 76 3.
------+Article 76 4.
------+Article 76 5.
------+Article 76 6.
------+Article 76 7.
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TITLE VI DELEGATION OF POWER, IMPLEMENTING POWERS, TRANSITIONAL, AMENDING AND FINAL PROVISIONS
TITLE VI DELEGATION OF POWER, IMPLEMENTING POWERS, TRANSITIONAL, AMENDING AND FINAL PROVISIONS
1. Panoramica
| Titolo |
Regolamentazione |
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Article 67 Exercise of the delegation
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Article 68 Committee procedure
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Article 69 Transitional provisions
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Article 70 Amendments to Directive 98/26/EC
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Article 70
Amendments to Directive 98/26/EC
Directive 98/26/EC is amended as follows:
(1)
the third indent of the first subparagraph of point (a) of Article 2 is replaced by the following:
—
‘—
designated, without prejudice to other more stringent conditions of general application laid down by national law, as a system and notified to the European Securities and Markets Authority by the Member State whose law is applicable, after that Member State is satisfied as to the adequacy of the rules of the system.’;
(2)
in Article 11, the following paragraph is added:
‘3.
By 18 March 2015, Member States shall adopt and publish and communicate to the Commission measures necessary to comply with the third indent of the first subparagraph of point (a) of Article 2.’.
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Article 71 Amendments to Directive 2014/65/EU
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Article 71
Amendments to Directive 2014/65/EU
Directive 2014/65/EU is amended as follows:
(1)
in Article 2(1), point (o) is replaced by the following:
‘(o)
CSDs except as provided for in Article 73 of Regulation (EU) No 909/2014 of the European Parliament and of the Council (
*1
).
(2)
in Article 4(1), the following point is added:
‘(64)
‘central securities depository’ or ‘CSD’ means a central securities depository as defined in point (1) of Article 2(1) of Regulation (EU) No 909/2014.’;
(3)
in Section B of Annex I, point (1) is replaced by the following:
‘(1) Safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management and excluding providing and maintaining securities accounts at the top tier level (‘central maintenance service’) referred to in point (2) of Section A of the Annex to the Regulation (EU) No 909/2014.’.
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Article 73 Application of Directive 2014/65/EU and Regulation (EU) No 600/2014
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Article 73
Application of Directive 2014/65/EU and Regulation (EU) No 600/2014
CSDs authorised in accordance with Article 16 of this Regulation shall not require authorisation under Directive 2014/65/EU in order to provide the services explicitly listed in Sections A and B of the Annex to this Regulation.
Where a CSD authorised in accordance with Article 16 of this Regulation provides one or more investment services or carries out one or more investment activities in addition to providing the services explicitly listed in Sections A and B of the Annex to this Regulation, Directive 2014/65/EU with the exception of Articles 5 to 8, Article 9(1) to (2) and (4) to (6) and Articles 10 to 13, and Regulation (EU) No 600/2014 shall apply.
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Article 74 Reports
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Article 75 Review
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Article 75
By 17 January 2029, the Commission shall review and prepare a general report on this Regulation. The Commission shall, in particular, assess:
(a)
the matters referred to in Article 74(1), points (a) to (l), establish whether there are substantive barriers to competition in relation to the services subject to this Regulation which are insufficiently addressed and consider the potential need to apply further measures to:
(i)
improve settlement efficiency;
(ii)
limit the impact on taxpayers of the failure of CSDs;
(iii)
address any identified competition or financial stability issues related to internalised settlement;
(iv)
minimise barriers to cross-border settlement;
(v)
ensure adequate powers and information for authorities to monitor risks;
(b)
the functioning of the regulatory and supervisory framework for Union CSDs, especially those CSDs whose activities are of substantial importance for the functioning of securities markets and the protection of investors in the Union in at least two host Member States, focusing in particular on the cross-border provision of services, potential risks for clients and participants of CSDs, investor protection and the financial stability in the Union;
(c)
the functioning and scope of the Union regulatory and supervisory framework for third-country CSDs, in particular the supervision of such CSDs when providing services in the Union, including the role of ESMA.
The Commission shall submit the report to the European Parliament and to the Council, together with any appropriate proposals.
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Article 76 Entry into force and application
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,
1.1 Riferimenti
1.2 Requisiti identificati
1.3 Standard correlati
2. Requisiti identificati
Requisiti
| Fonte |
Requisito |
3. Standard correlati
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