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Financial services
Securities Law Directive (SLD)
In November 2010, the European Commission launched a second public consultation to feed into a planned Securities Law Directive. The Directive will seek to address legal barriers to the safe and efficient treatment of securities post-trade, which have arisen as a result of electronic book-keeping and the ways in which securities are often held through a chain of account providers. In addition to defining how securities can be bought, lent or sold, the Directive will:
- require account providers to maintain sufficient securities against assets; and
- help clarify investor protection in the event of an account provider becoming insolvent.
The Securities Law Directive will have a considerable impact on the way that securities are held and traded in the EU, enhancing protection for investors by clarifying the legal status of securities at all stages of the financial transaction.
The Commission’s consultation paper is available to download as follows:
External links
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