Securities settlement procedures and requirements represent an important and technical, although often misunderstood, element of capital markets, and are particularly complex in the case of cross-border transactions.  This panel will explore important legal and commercial settlement issues relevant to counsel of both issuers and security holders throughout a settlement cycle in the context of equity-based transactions involving differing jurisdictions for listing, incorporation and place of issuance. Topics to be discussed include:
•    Overview of settlement systems in Europe and the U.S.; 
•    Key elements of a settlement cycle; 
•    Interaction between corporate and securities laws applicable at the place of incorporation and settlement rules applicable at the place of listing; 
•    Interaction between central securities depositories (CSD) and custodian banks; 
•    Impact of certain jurisdictions’ plans to transition to a T+1 settlement cycle in May 2024; and 
•    Involvement of CSDs in corporate actions (voting, dividends, take-privates) post-IPO.