EESC has published its opinion on the proposed Regulation on improving securities settlement and on central securities depositories (CSDs). It supports the prohibition on CSDs holding a banking licence, only allowing them to set up a standalone bank under group ownership. It also welcomes the uniform T+2 settlement requirement. Concerning the target of completing the dematerialisation of tradable securities by 2020, EESC says there is a need for political compromise given the uneven progress made by different Member States. (Source: Opinion of the EESC on the CSD Regulation)