On 3 September 2020 Central Depository AD (CDAD) published on its website a new updated version of its Operational Instructions Handbook. The new updates include:
- SRDII-related in force as of 3 September 2020: CDAD will follow ISO20022 standard for Shareholders’ Identification Disclosure. CDAD has provided message templates for both the request that CDAD shall send to its members holding omnibus securities accounts for their clients and the request response that CSD members shall send to CDAD.
According to Art. 110c, Para. 4 of the Public Offering of Securities Act (the legislative piece in which SRDII has been transposed in Bulgaria), in effect as of 3 September 2020, the information on shareholders' disclosure shall be requested and provided through the central securities depository with which the respective securities have been registered; in the case of a chain of intermediaries, the information shall be transmitted between them in a timely manner.
- CSDR-related changes will enter in force as of 1 March 2021 instead of 1 January 2021.
Impact on investors: Communication to/from Central Depository AD related to Shareholders’ Identification Disclosure will follow ISO20022 standard. Further details will be announced once available.