The European Securities and Markets Authority (ESMA) has published an updated list of relevant authorities under Article 12 of the Central Securities Depositories Regulation (CSDR), as part of its ongoing reference documentation for post-trading supervision. The document, dated 3 August 2026 and bearing reference ESMA70-151-887, identifies the national competent authorities designated by EU member states for the authorisation and supervision of central securities depositories (CSDs) under the CSDR framework.
The list serves as a key reference for market participants, CSDs, and national regulators, clarifying which authority is responsible for oversight in each jurisdiction. Article 12 of CSDR requires member states to notify ESMA of the authorities responsible for carrying out duties under the regulation, and ESMA consolidates this information into a single public register. The updated list reflects any changes in national designations, ensuring that cross-border post-trading activities remain subject to clear and consistent supervisory oversight across the EU.
This update comes amid broader efforts to harmonise post-trade infrastructure regulation in the EU. In recent months, ESMA has been working on technical standards related to CSDR, including settlement discipline and the authorisation of CSDs, as part of the European Commission's wider digital finance and capital markets union agenda. The list is a routine but essential tool for market participants, as it determines which national authority they must engage with for licensing, ongoing supervision, and enforcement matters.
The document is non-binding in nature, serving as a reference rather than imposing new obligations. However, it has practical implications for CSDs operating across borders, as they must ensure compliance with the supervisory framework of each member state where they provide services. For investors and issuers, the list provides clarity on which authority to approach in case of disputes or queries related to CSD operations.
ESMA's publication of the updated list is expected to support the smooth functioning of the EU's securities settlement systems, reducing regulatory uncertainty and facilitating cross-border investment. The agency continues to maintain and update this reference as member states notify changes, ensuring that the register remains accurate and up to date.