Article 44 | CSDR | Regulation 909/2014

Updated 05/02/2025

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Article 44 - Regulation 909/2014 (CSDR)

Article 44

General business risk

A CSD shall have robust management and control systems as well as IT tools in order to identify, monitor and manage general business risks, including losses from poor execution of business strategy, cash flows and operating expenses.

Recitals

TITLE I - SUBJECT MATTER, SCOPE AND DEFINITIONS (Article 1-2)

TITLE II - SECURITIES SETTLEMENT (Article 3-9)

TITLE III - CENTRAL SECURITIES DEPOSITORIES (Article 10-53)

CHAPTER I - Authorisation and supervision of CSDs (Article 10-25)

CHAPTER II - Requirements for CSDs (Article 26-48)

Section 1 - Organisational requirements (Article 26-31)

Section 2 - Conduct of business rules (Article 32-35)

Section 3 - Requirements for CSD services (Article 36-41)

Section 4 - Prudential requirements (Article 42-47)Article 42 - General requirements GL Article 43 - Legal risks Article 44 - General business risk GL Article 45 - Operational risks RTSQ&AGL Article 46 - Investment policy RTSQ&A Article 47 - Capital requirements RTSQ&A

Section 5 - Requirements for CSD links (Article 48)

CHAPTER III - Access to CSDs (Article 49-53)

TITLE IV - PROVISION OF BANKING-TYPE ANCILLARY SERVICES FOR CSD PARTICIPANTS (Article 54-60)

TITLE V - SANCTIONS (Article 61-66)

TITLE VI - DELEGATION OF POWER, IMPLEMENTING POWERS, TRANSITIONAL, AMENDING AND FINAL PROVISIONS (Article 67-76)

ANNEX RTSDAQ&A

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Article 44 - Regulation 909/2014 (CSDR)

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