New reporting requirements for central securities depositories in the EU: what changes in 2026

Key data

Central securities depositories (CSDs) in the European Union face new supervisory reporting obligations following the publication of Commission Delegated Regulation (EU) 2026/1519 of 6 July 2026. This standard amends the regulatory technical standards of Delegated Regulation (EU) 2017/392 and updates the type and scope of information that CSDs must provide to their competent authorities within the supervisory review and evaluation process provided for in Article 22, paragraph 1, of the CSDR Regulation (EU) No 909/2014.

The objective is clear: to improve the quality and comprehensiveness of available data so that supervisors can more accurately assess the operational, financial, and governance risks of these critical infrastructures in the European capital markets.

What does this regulation establish?

Delegated Regulation 2026/1519 introduces technical amendments to the previous standard (Delegated Regulation 2017/392) regarding the content and format of supervisory information that CSDs must submit to their competent authorities. The following are the key areas of change:

The standard does not create an entirely new regime, but rather updates and expands the existing reporting framework, requiring CSDs to adapt their internal systems to meet the new information requirements.

Economic and operational impact

The impact of this standard is technical and sectoral: it does not affect retail investors or non-financial companies. However, for CSDs and their compliance teams, the operational implications are significant:

• Adaptation of reporting systems: CSDs will need to review and update their internal platforms and processes for generating and submitting supervisory information to comply with the new quality and comprehensiveness requirements.
• Compliance cost: The standard does not specify concrete cost amounts, but adapting reporting systems in market infrastructures typically involves investment in technology, process review, and training of regulatory teams.
• Supervisory risk: Incomplete or low-quality information in the supervisory review and evaluation process may result in additional requirements from competent authorities or an unfavorable supervisory assessment.
• European convergence: The standard strengthens the harmonization of the supervisory framework across the EU, which may reduce asymmetries between CSDs in different Member States in the medium term.

Since the impact is exclusively on critical post-trading infrastructures, no direct costs are generated for listed companies, issuers, or investors. The burden falls entirely on the CSDs themselves and their supervisors.

Who is affected?

• Central securities depositories (CSDs) authorized in the EU: These are the entities directly obligated to adapt their reporting systems and provide the new information to their supervisors.
• Compliance and regulatory departments of CSDs: Responsible for implementing changes in reporting processes and ensuring the quality of submitted data.
• Competent supervisory authorities of CSDs: Recipients of the new information, they will need to integrate it into their supervisory review and evaluation processes.
• Consultants and advisors specialized in market infrastructures: May be involved in regulatory adaptation projects for CSDs.

The standard does not directly affect retail investors, non-financial companies, credit institutions in their ordinary activities, or securities issuers.

Practical example

A CSD authorized in Spain that currently reports to its competent authority (the CNMV) within the supervisory review and evaluation process of Article 22 of the CSDR will need to review the content of its periodic reports to verify that it covers all new information requirements on operational, financial, and governance risks required by Delegated Regulation 2026/1519.

In practice, this means that the CSD's regulatory team will need to:

1. Conduct a gap analysis between the information currently reported under Delegated Regulation 2017/392 and the new requirements of 2026/1519.
2. Identify what new data or information categories must be incorporated into the supervisory report.
3. Adapt technological systems and internal procedures to generate and validate that information before submitting it to the competent authority.

If the CSD does not adapt its reports in time, the supervisory authority could request additional information or consider that the supervisory review and evaluation process cannot be completed properly, with the resulting regulatory risk for the entity.

What should companies do now?

1. Identify if you are a CSD authorized in the EU: Only entities authorized under the CSDR Regulation (909/2014) are directly obligated by this standard.
2. Review the complete Delegated Regulation 2026/1519: Access the official text on EUR-Lex to identify exactly what new data or information categories are required.
3. Conduct a regulatory gap analysis: Compare current reports prepared under Delegated Regulation 2017/392 with the new requirements of 2026/1519 to identify gaps.
4. Adapt internal reporting systems: Update technological platforms and procedures for generating, validating, and submitting supervisory information.
5. Coordinate with the competent authority: Contact your national supervisor to confirm implementation timelines and the expected format of new reports.
6. Train compliance and regulatory teams: Ensure that professionals responsible for these areas understand the new requirements and updated procedures.

Official source

Consult complete regulation at official source

Disclaimer: This article is for informational purposes only and does not constitute legal advice. For specific decisions, consult a qualified professional. Source: https://eur-lex.europa.eu/./legal-content/AUTO/?uri=OJ:L_202601519