Issues/Faults Tracking System

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Issues and Faults Tracking System

Remedy Actionary Request System

the details of the system monitoring settlement fails and the reports on settlement fails referred to in paragraph 1.

1. For each securities settlement system it operates, a CSD shall establish a system that monitors settlement fails of transactions in financial instruments referred to in Article 5(1).

Range of process issues relating to consumer assurance schemes identified by the European Economic and Social Committee:a) Scheme Governance Where does ultimate control of the scheme lie?b) Scheme Goals Are the goals clearly defined?c) Scheme scope Does the scheme address the "problem" as normally defined?d) Scheme standards or terms Do the standards set and monitored by the scheme express the goals? e) Impact assessment Is there credible assessment of the impact of the scheme on the goals?f) Independent review Is there any independent review of the scheme's operation?g) Cost-benefit analysis Is there any process to monitor and evaluate ...[+++]the costs of the scheme borne by suppliers, traders and consumers in comparison to the progress made to achieve the goals?h) Public claims Do the public claims by certified companies or suppliers match the goals, standards and outcomes of the scheme?

8. ESMA shall develop, after consulting the members of the ESCB draft regulatory technical standards to specify the details of the system monitoring settlement fails and the reports on settlement fails referred to in paragraph 1, of the procedures facilitating settlement of transactions following settlement fails referred to in paragraph 2 and the measures referred to in paragraphs 3 to 5.