Commission Delegated Regulation (EU) 2022/1930 has now been published in the Official Journal, formally postponing the application of the CSDR mandatory buy-in regime until 2 November 2025.
The draft regulatory technical standards (RTS) had been published by ESMA in June, following the Commission's proposal, as part of its suggested targeted changes to CSDR, that mandatory buy-ins not apply for the time being. The Commission had stopped short of proposing their removal from the settlement discipline framework entirely, as it wants an option to re-introduce mandatory buy-ins via an implementing act in certain circumstances. For more information, read our June 2022 CSDR: Mandatory buy-in update.
The Commission Delegated Regulation will apply from 2 November 2022 (ESMA's December 2021 'no action' letter has applied in the meantime).
This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.