On July 23, 2014, the EU adopted Regulation No. 909/2014, Central Securities Depository Regulation (CSDR), aiming to harmonise the securities settlement and CSD regulations in the EU.
Euronext announced yesterday the acquisition of c.70% of the share capital in the Danish Central Securities Depository, VP Securities.
In light of the ongoing pandemic, we would like to reassure our customers and cooperating bodies that Euronext VPS have implemented necessary measures in order to remain operational and deliver the same level of quality our customers are used to.
The COVID-19 situation has changed in Norway, and the number of confirmed cases of COVID-19 has increased over the last few days.
The Norwegian Ministry of Finance has sent a draft for legislation on withholding tax on interests and royalties, etc. on a public consultation.
process of developing services ensuring that issuers and intermediaries will be able to meet the requirements from the new regulation.
Euronext VPS had a positive development throughout 2019 and had a growth in all key areas. We continue to experience an increased interest from larger international institutions to establish a more direct model to the Norwegian infrastructure.
The new Central Securities Depositories Act which implements the CSDR enters into force 1 January 2020.
There are still spots available to this year's conference. The agenda is set and can be viewed in the link below.
All new issuers registering with VPS will be required to have a LEI after 29 March 2017.
The Norwegian Parliament adopted a new law on Central Securities Depositories (CSDs) and on Securities Settlement, March 15th 2019.
Euronext announced that its shareholders unanimously voted in favour of Euronext’s acquisition of up to 100% of Oslo Børs VPS’s capital during the General Meeting of Shareholders held on 16 May 2019 in Amsterdam.
The Norwegian parliament is in the process of adopting a new law on Central securities depositories (CSDs) and on Securities settlement. The Standing Committee on Finance and Economic Affairs has presented its proposal in Innst. 166 L (2018-2019) (https://www.stortinget.no/no/Saker-og-publikasjoner/Publikasjoner/Innstillinger/Stortinget/2018-2019/inns-201819-166l/). The new law implements CSDR (the European Regulation on improving securities settlement in the European Union and on central securities depositories) into Norwegian law. The new law will replace the current Securities register act of 5. July 2002 nr. 64.
VPS submits today a proposed new rule document, the new VPS Rules for the Registration Activities and Related Ancillary Services.
Consultation concerning changes in VPO NOK in regards to Hold & Release
When VPS can apply for an authorization under CSDR is depending on when the regulation is included in the EEA-agreement and implemented in Norwegian law.
CSDR will apply to VPS and the Norwegian market, as for the rest of EU, when the regulation is incorporated in the EEA-agreement and implemented in Norwegian law.
VPS refer to our letter of 4 July 2017 regarding possible changes to the VPO NOK Rules and the invitation to participants and others to contribute in the consultation regarding those rules.
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