Regulatory Alerts2020-04-06
Added · Updated
Guidelines on standardised procedures and messaging protocols under Article 6(2) of Regulation (EU) No 909/2014
These guidelines require investment firms to contractually agree with professional clients on communication procedures and messaging protocols to implement measures limiting settlement fails. Investment firms must offer the option of using international open communication procedures and standards for messaging and reference data, unless such standards are unavailable on a fair, open and non-discriminatory basis or do not allow limiting settlement fails. Competent authorities must notify ESMA within two months of publication whether they comply with these guidelines and provide reasons for non-compliance.
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