On 8 February 2021 FSA approved amendments to the CSD “Code of Rules”.
Changes and new provisions are the following:
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Changes in terminology and rewording of some articles for more clarification (e.g. term “revocation of a transfer order” was replaced by “cancellation of a transfer order”)
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Amendments in the section related to the participants’ holdings disclosure reporting to include the reporting obligation in case of issuers from Member States whereby the Central Depository is the issuing party
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Deadlines for disclosure reporting were also included to align with SRDII requirements
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Issuers who register the financial instruments in the Central Depository system will be required to provide additional information such as LEI Code and IBAN Code for shareholders who are legal entities, and IBAN Code, e-mail address for shareholders who are natural persons
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In case the Central Depository acts as an “investor depository”, based on the information received from the issuer or from the CSD, the general shareholder’s meeting is now included amongst other corporate events.
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Additional responsibilities for the participants is in the way of transmitting the announcements of the corporate event/shareholders meetings in order to ensure that the accuracy of the information communicated by the Central Depository is not altered
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New provisions regarding the way in which the Central Depository provides the issuer’s registry to the issuers and their obligation to recognize the information provided.
Amendments were published on the CSD’s website on 16 February 2021 and will enter into force on 2 March 2021.