Press Release: Post-trading: Commission expert group calls for harmonised solution to dismantle legal barriers in cross-border securities transactions

The European Commission's Legal Certainty Group (LCG) put forward solutions to legal barriers related to the cross-border holding and settlement of securities. The solutions proposed in its report, entitled 'Second Advice', were intended to lead to an improved and harmonised legal framework for holding and settlement of securities through intermediaries and for the processing of corporate actions. Furthermore, the report proposed to give issuers free choice between European Central Securities Depositories.