Search Legislation

Regulation (EU) No 909/2014 of the European Parliament and of the CouncilShow full title

Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation (EU) No 236/2012 (Text with EEA relevance)

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

 Help about UK-EU Regulation

Legislation originating from the EU

When the UK left the EU, legislation.gov.uk published EU legislation that had been published by the EU up to IP completion day (31 December 2020 11.00 p.m.). On legislation.gov.uk, these items of legislation are kept up-to-date with any amendments made by the UK since then.

Changes over time for: Article 22

 Help about opening options

Changes to legislation:

Regulation (EU) No 909/2014 of the European Parliament and of the Council, Article 22 is up to date with all changes known to be in force on or before 08 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Article 22U.K.Review and evaluation

1.The competent authority shall, at least on an annual basis, review the arrangements, strategies, processes and mechanisms implemented by a CSD with respect to compliance with this Regulation and evaluate the risks to which the CSD is, or might be, exposed or which it creates for the smooth functioning of securities markets.

2.The competent authority shall require the CSD to submit to the competent authority an adequate recovery plan to ensure continuity of its critical operations.

3.The competent authority shall ensure that an adequate resolution plan is established and maintained for each CSD so as to ensure continuity of at least its core functions, having regard to the size, systemic importance, nature, scale and complexity of the activities of the CSD concerned and any relevant resolution plan established in accordance with [F1the Bank Recovery and Resolution (No.2) Order 2014].

4.The competent authority shall establish the frequency and depth of the review and evaluation referred to in paragraph 1 having regard to the size, systemic importance, nature, scale and complexity of the activities of the CSD concerned. The review and evaluation shall be updated at least on an annual basis.

5.The competent authority shall subject the CSD to on-site inspections.

F26.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F27.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F28.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9.The competent authority shall require a CSD that does not meet the requirements of this Regulation to take at an early stage the necessary actions or steps to address the situation.

10.[F3The Bank of England may make] regulatory technical standards to specify the following:

(a)the information that the CSD is to provide to the competent authority for the purposes of the review and evaluation referred to in paragraph 1;

F4(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F4(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F5...

11.[F6The Bank of England may make] implementing technical standards to determine standard forms, templates and procedures for the provision of information referred to in the first subparagraph of paragraph 10.

F7...

F7...

Textual Amendments

Back to top

Options/Help