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Commission Delegated Regulation (EU) 2017/392Show full title
Commission Delegated Regulation (EU) 2017/392 of 11 November 2016 supplementing Regulation (EU) No 909/2014 of the European Parliament and of the Council with regard to regulatory technical standards on authorisation, supervisory and operational requirements for central securities depositories (Text with EEA relevance)
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Changes over time for: Article 71
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Commission Delegated Regulation (EU) 2017/392, Article 71 is up to date with all changes known to be in force on or before 24 January 2026. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
EUR 2017 No. 392 may be subject to amendment by EU Exit Instruments made by the Bank of England under powers set out in The Financial Regulators' Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1115), regs. 2, 3, Sch. Pt. 3. These amendments are not currently available on legislation.gov.uk. Details of relevant amending instruments can be found on their website/s.
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Changes and effects yet to be applied to Article 71:
- Regulation revoked by 2023 c. 29 Sch. 1 Pt. 1 3
Article 71U.K.Integration of and compliance with the operational and enterprise risk-management system
1.A CSD shall ensure that its operational risk-management system is part of its day-to-day risk-management processes and that their results are taken into account in the process of determining, monitoring and controlling the CSD's operational risk profile.
2.A CSD shall have in place mechanisms for regular reporting to the senior management of operational risk exposures and losses experienced from operational risks, and procedures for taking appropriate corrective action to mitigate those exposures and losses.
3.A CSD shall have in place procedures for ensuring compliance with the operational risk-management system, including internal rules on the treatment of failures in the application of that system.
4.A CSD shall have comprehensive and well-documented procedures to record, monitor and resolve all operational incidents, including:
(a)a system to classify the incidents taking into account their impact on the smooth provision of services by the CSD;
(b)a system for reporting material operational incidents to the senior management, the management body and the competent authority;
(c)a ‘post-incident’ review after any material disruption in the CSD's activities, to identify the causes and required improvements to the operations or business continuity policy and disaster recovery plan, including to the policies and plans of the users of the CSD. The result of that review shall be communicated to the competent authority and relevant authorities without delay.
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