As part of the local implementation of the Central Securities Depositories Regulation (CSD Regulation), the new Act on the Book-Entry System and Clearing Operations will enter into force on 21 June 2017. This means changes to the services for the end-investors provided by Euroclear Finland’s account operator, Customer Account Services.
What will change?
The current act provides that Euroclear Finland provide safekeeping services free-of-charge for equity instruments to end-investors while the costs of the services are charged from the issuers. The new act no longer requires this. After the new act has entered into force we will:
o Cease accepting new issuers or new securities into Customer Account Services
o Cease opening new accounts into Customer Account Services
o Whole account transfers into Customer Account Services will no longer be performed
o New securities issued after 21 June 2017 can’t be transferred within the book-entry accounts in the Customer Account Services
o Existing securities, issued prior to 21 June 2017, can be transferred within the book-entry accounts in the Customer Account Services
o During the two years transition period our invoicing remains as-is towards current issuers
The Finnish Central Securities Depository (CSD), as an account operator, offers safekeeping services for:private investors and Communities.
You can find the price list, brochure, account terms and account agreement. Note that you can only hold securities that are issued in the Finnish book-entry system.