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Mandatory buy-ins should be scrapped, says lead lawmaker on securities-depositories rules revamp

( October 13, 2022, 15:27 GMT | Official Statement) -- MLex Summary: A mandatory buy-in mechanism under the EU's securities-depositories rules should be scrapped, the leading lawmaker on the rules revamp said in his draft stance on the file. Johan Van Overtveldt said the mandatory buy-ins cause "significant interference in the execution of securities transactions and the functioning of securities markets." This is unlike the approach of the European Commission, which in March proposed to tweak the regime but not remove it in its legislative proposal on the Central Securities Depositories Regulation. Van Overtveldt's final report will form the basis of the European Parliament's negotiating stance on the update.Draft report attached. ...

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