ESMA_QA_1238

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1238

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Regulatory Context

Regulation : CSDR

Level 1 Regulation: Central Securities Depositories Regulation (CSDR) Regulation (EU) No 909/2014- PTR- CSDR

Level 2 Regulation: No information available

Level 3 Regulation: No information available

Topic: CSDR questions - Other topics

Subject Matter: Access to CSDs

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Question

Submission Date: 02 June 2017

Article 49(2) of CSDR provides that a CSD shall provide a response to an access request from an issuer within three months. If the CSD asks the requesting issuer for additional information, does it automatically entail an extension of the three-month period?

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ESMA Answer

Answer Date: 02-06-2017

[ESMA 70-156-4448 CSDR - CSD Q&A 8] No, CSDR does not provide CSDs with any possibility to extend this three-month period. If the request submitted by an issuer does not satisfy the access conditions set out by it, the CSD can, based on a comprehensive risk assessment, refuse to grant access to such issuer. In that case, as specified in Article 49(4) of CSDR, the issuer shall have the right to complain to the competent authority of the CSD.

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This document was automatically extracted from the ESMA EMIR Q&A database.