Regulatory Alerts2020-09-30 | Circular 36/2020Added · Updated
Circular 36/2020 — Electronic Issuance of Securities Representing Securities Deposited in Securities Depository Institutions
This circular establishes the security conditions and procedures for the electronic issuance of securities deposited in securities depository institutions, requiring the use of qualified digital certificates, electronic signatures, and time stamps to ensure integrity. Issuers must deliver valid qualified digital certificates to the depository institution at least six months prior to issuance, and data messages must contain specific details such as ISIN codes, nominal values, and maturity dates. The depository institution is mandated to verify the authenticity and integrity of these messages, assign ISIN codes, and archive the resulting electronic titles in at least four different electronic vaults located in three distinct geographic locations, with two vaults operating synchronously.
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