Amendments relate to provisions on settlement discipline.
Amendments that entered into force on 10 February 2022
adopted in Resolution No 49/936/21 of the KDPW Supervisory Board of 8 October.
The introduced amendments related in particular to:
1 / the easing of certain formal requirements relating to documents that should be appended to applications submitted to KDPW by participants or entities applying for participation;
2 / the introduction of additional control mechanisms to prevent the risk of introducing securities to the depository, the registration of which would first require the notification procedure, referred to in Art. 23 of CSDR, to be initiated;
3 / the update of provisions relating to the special procedure for introducing shares and subscription warrants issued before March 1, 2021, to the depository;
4 / rules for settlement of payment between KDPW and a direct participant making an incoming intersystem transfer of securities from a foreign CSD, in the event that a foreign CSD has settled the so-called market claims related to this transfer.
