New Power of Attorney forms for ISO 20022
LuxcCSD1 informs clients that, effective
immediately
Power of Attorney forms will incorporate corporate action messages in ISO 20022 format.
Background
LuxCSD will support the co-existence of both ISO 15022 and ISO 20022 formats until a final date for the decommissioning of ISO 15022 is announced.
As a result, Power of Attorney (POA) forms will be adapted to support both formats.
Benefits for clients
Early access to ISO 20022-compliant POAs is available for clients wishing to appoint an Attorney using the new format or to update their existing POAs. The following attached new forms must be signed:
- POA for Instructions and Reporting;
- POA for Account Administration (as applicable).
These new POA forms are also ready to support ISO 20022 changes for other LuxCSD products, such as Settlement as applicable, also allowing the co-existence of both ISO formats.
The forms are optimised and digitised (Simplified/Qualified Electronic Signature capable) bringing increased efficiency and transparency for clients. Clients may nevertheless still use wet ink signatures.
The new POAs will supersede any previous versions.
Exceptions
POAs for Trading Venue service, Proxy Voting service and Collateral Accounts are not in scope for this change.
Further information
For further information, clients may contact LuxCSD Client Services or their Relationship Officer.
------------------------------------------
1. LuxCSD refers to LuxCSD S.A., registered office at 42, Avenue J.F. Kennedy, L-1855 Luxembourg, registered with the Luxembourg Trade and Companies Register under number B-154.449.