No Comments

ESMA preps for blockchain pilot – Investment Executive

ESMA preps for blockchain pilot
Regulators consult on rule changes ahead of digital securities test
Ahead of an effort to test the use of blockchain technology to improve the efficiency of securities markets, European regulators are consulting on whether rule changes are needed.
The European Securities and Markets Authority (ESMA) has published a paper seeking feedback on possible changes to regulatory standards and reporting requirements when deploying distributed ledger technology (DLT) for securities trading and settlement.
The consultation comes in the wake of plans for a pilot regime for trading and settling “tokenized” securities — digital versions of traditional securities — using DLT.
The so-called DLT Pilot “is part of a package of measures proposed by the [European Commission] to further enable and support the potential of digital finance in terms of innovation and competition while mitigating the associated risks,” the paper noted.
ESMA is asking whether securities regulators should change pre-and post-trade transparency and data reporting requirements to cover securities issued, traded and recorded on DLT. ESMA is also seeking feedback on how regulators should collect information on these transactions.
“The aim is to ensure more efficient, secure, and cost-effective management of the data stored on DLTs while preserving its quality, usability and comparability,” the paper said.
The consultation will run until March 4. If rule changes are needed, they would go out for consultation, with the DLT Pilot expected to start in early 2023.
Every day, get the financial news that matters in your inbox.
New supervisory data sanguine about leverage, liquidity conditions
The Ontario regulator is reviewing how well complaints are addressed
Regulator makes changes in light of new SRO and forthcoming regulations
The government will draw a line between mom and pop-style landlords and large real estate trusts that own hundreds of units
The ex-representative embezzled funds from elderly clients
Oil prices and consumer goods demand are among the variables that will affect inflation this year, bank economists suggest
Christine Van Cauwenberghe to oversee wealth, advisor training and financial specialist teams
The firm agreed to a $157,500 fine and will repay 6,000 affected clients
© Newcom Media Inc.
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.


You might also like

More Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed

This site uses Akismet to reduce spam. Learn how your comment data is processed.