The European Commission has published a consultation paper which seeks to obtain information on the necessity to improve the EU-wide framework for securities holding and disposition and on how future EU legislation in this field could address the issue. The consultation paper covers:
- The legal framework for the holding and disposition of book-entry securities.
- The processing of rights flowing from securities.
- Free choice regarding initial entry into a holding and settlement structure, in particular free choice of central securities depositories by the issuer.
- Duties of account providers.
Responses on the consultation paper are invited by 11 June 2009.
View Commission launches consultation on new legal framework for intermediated securities, (PDF 54.8KB), 20 April 2009