Date: 28 February 2023

On 15 February 2023, the European Securities and Markets Authority (ESMA), published its Peer Review Report on the national supervision of Central Securities Depositories (CSDs) providing cross-border services or participating in interoperable links.

The peer review assessed six National Competent Authorities (NCAs) in respect of how they supervise CSDs, which make use of the freedom to provide services in another Member State. The exercise included onsite visits to the CSSF (Luxembourg), FKTK (Latvia) and NBB (Belgium) to gain a deeper understanding of how these NCAs supervise the cross-border activities of CSDs.