Entrusting the custody of assets to the operator of a securities settlement system as designated for the purposes of Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems ( 12 ) or entrusting the provision of similar services to third-country securities settlement systems should not be considered to be a delegation of custody functions.
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New version applies from 02/07/2014 — introduced by Directive 2014/65/EU (MIFID II).
97 provisions change.
Later versions: 13/01/2019, 26/06/2021, 02/08/2021, 09/01/2024, 17/01/2025, 16/04/2026.
Recital 41 changes in this version: compare with the current text.