Regulation

VP is subject to the Danish Act on Capital Markets and holds a licence as a Central Securities Depository under an European regulation.

VP holds a licence as a Central Securities Depository (CSD) under the European Regulation on improving securities settlement in the European Union and on central securities depositories (CSDR).

CSDR regulates the legal aspects of securities settlement and harmonises the requirements and supervision of all CSDs in Europe.

As one of the first CSDs in Europe, we received our licence from the Danish Financial Supervisory Authority (Finanstilsynet) with effect from 3 January 2018. With the licence VP obtained an European passport enabling us to provide services across the European Union.

Beside CSDR VP is subject to the Danish Act on Capital Markets, including relevant executive orders.

The Act on Capital Markets regulates among other things the Danish decentralised structure with Securities Account Controllers, netting, financial collateral and registration of rights.

VP and CSDR

Link  

Danish regulation

 

 

 

Click here to see the Danish regulation on CSDs

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CSDR Settlement Discipline Regime 

The European Regulation on improving securities settlement in the European Union and on Central Securities Depositories (CSDR) contains provisions on settlement discipline.

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Insolvency

VP must publicly disclose the rules and relevant procedures we have defined to manage a participant’s default.

Insolvency

Legal & Regulations

+45 5388 8888

VP is subject to supervision in accordance with both the European Regulation on central securities depositories and the Danish Act on Capital Markets.

- Legal & Regulations