CSD of the Slovak Republic amends operational rules and tariffs

Slovakia
UniCredit Bank Czech Republic and Slovakia, a.s., pobočka zahraničnej banky
Summary: 
The Central Securities Depository of the Slovak Republic (CDCP) amends operational rules and tariffs for July 2018
Mon, 02/07/2018

The Central Securities Depository of the Slovak Republic (CDCP) has approved of amendments to its tariffs and operational rules. The tariffs became effective on 1 July 2018 and the operational rules will come into force on 15 July 2018.

 

The tariffs introduced new fees in connection with the services provided to the Directly Connected Party (DCP) (reinvoicing from T2S). Fees for CFI and FISN codes have been added into the schedule. Changes have also been made regarding the fees for the assignment, amendment and cancellation of ISINs.

 

The main changes of the operational rules are the following:

- Specification of  Anti Money Laundering Requirements – simplified administration of care shall be applicable for participants; obligation of  CDCP clients to cooperate and provide information in the mandatory process

-  Introduction of a right of CDCP to adjust codes (CFI, FISN, ISIN) in accordance with ISO changes and an obligation for the issuer to ask for a change of the CFI and FISN

- Modification of provisions for a cancellation of the issue – it is possible to cancel an issue within 20 business days after its maturity. Such an issue shall not be suitable for autocollateralisation

- New rules on how to register securities in the case of an active link between CDCP (investor’s depository) and National Central Securities Depository (issuer’s depository)

- Reformulation of the issuer’s  consent to register pledge over securities, which shall be released prior to the conclusion of the pledge agreement

- Detailed specification of the submission form to request a CDCP service – postal, electronic or in person

- New provisions referring to settlements of instructions of DCP in T2S

 

Impact on investors:  Information on operational rules and tariffs amendments, in line with the Act on Securities and Investment Services and introduction of DCP connectivity