Settlement Discipline Regime (SDR): ESMA proposes to postpone the buy-in regime


On 23 September, the European Securities and Markets Authority (ESMA) recommended to the European Commission (EC) to implement as planned the settlement fails reporting and the cash penalty framework on 1 February 2022, but to delay the mandatory buy-in regime due to the many concerns of market participants encountering challenges with the buy-in regime.

ESMA would appreciate the EC’s feedback by the end of October 2021.

ESMA's Letter to EC about SDR