Entry into force of measure on technical standards on securities settlement discipline postponed by one year due to COVID-19 difficulties

To take into account difficulties caused by the COVID-19 pandemic, the entry into force of Delegated Regulation 2018/1229 concerning regulatory technical standards on settlement discipline has been postponed by one year, to 1 February 2022, by a Commission Delegated Regulation that has been published today (2021/70).

Delegated Regulation 2018/1229 sets out measures to prevent and address settlement fails, and to encourage settlement discipline, including monitoring settlement fails, and collecting and distributing cash penalties for settlement fails.

The difficulties raised relate to ‘a serious impact on the overall implementation of regulatory projects’ and delivery of the necessary information technology (IT) systems: the