EC gives green light to Euroclear UK & Ireland for temporary equivalence extension

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The European Commission has granted Euroclear UK & Ireland (EUI) the ability to continue to offer issuer central security depository (CSD) services after the Brexit transition period ends on 31 December 2020.

EUI will be able to continue settling Irish-domiclied funds and securities up until the end of the new extension period of 30 June 2021.

This comes as the EC has decided to adopt an implementing act determining the legal and supervisory requirements for UK CSDs as equivalent to those in the EU.

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