Regulatory Alerts2022-01-11
CSSF Circular 22/792: Application of ESMA Guidelines on Settlement Fails Reporting under CSDR Article 7
The Commission de Surveillance du Secteur Financier (CSSF) issued Circular 22/792 to implement the European Securities and Markets Authority guidelines on settlement fail reporting under Article 7 of the Central Securities Depositories Regulation. This directive mandates Luxembourg-based financial institutions and central securities depositories to establish precise reporting mechanisms for failed trades within prescribed regulatory timelines. The circular further directs market participants to consult the accompanying CSDR Article 7 User Guide for detailed operational procedures and compliance standards.
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