Amendments which came into force on 29 June 2020
- Resolution No. 494/2020 of the KDPW Management Board dated 15 June 2020 amending the Detailed Rules of Operation of Krajowy Depozyt Papierów Wartościowych and the Registration Procedures of Krajowy Depozyt Papierów Wartościowych
The amendments are required in connection with the implementation by KDPW, scheduled on 29 June 2020, of the processing of mandatory partial redemption of investment certificates marked with a given ISIN code, performed irrespective of a request of a fund participant, and mandatory full redemption of investment certificates marked with a given ISIN code, unrelated to the liquidation of the investment fund and performed irrespective of a request of a fund participant. Furthermore, the amendments eliminate suspension in the event of lack of coverage for the settlement of conditional or unconditional sale/purchase of securities between the National Bank of Poland and banks in open market operations. If such transaction cannot be settled when due, settlement instructions concerning such transaction will be deleted from the depository system and KDPW will not attempt to settle the transaction thereafter unless the counterparties to such settlement submit new settlement instructions for such transaction. Other minor amendments concern provisions relating to the processing of structured certificates (in particular, new provisions governing the course of action where a beneficiary waives the payment due on redemption of structured certificates) as well as provisions relating to transfers of securities without transfer of ownership.
Registration Procedures of Krajowy Depozyt Papierów Wartościowych 03.03.2020 - 28.06.2020
New KDPW regulations that came into force on 3 March 2020 (the date of KDPW’s authorisation referred to in Article 16 of CSDR). Those regulations replaced their existing counterparts.
Registration Procedures of Krajowy Depozyt Papierów Wartościowych 30.09.2019 - 02.03.2020