In April, 2010 CESR published three consultation papers which were seen by industry as a steps towards reviewing and amending certain aspects of MiFID. The consultation papers included proposed technical advice by CESR on investor protection and intermediaries (CESR/10-417), equity markets (CESR/10-394) and transaction reporting (CESR/10-292).
The consultation papers addressed areas of the MiFID legal framework needing improvement, including quality, cost and consolidation of post-trade transparency data and delays in the publication of such data.
CESR published its recommendations to the European Commission in late July, which related to key issues both CESR and market participants had identified. The recommendations take into account market developments since MiFID was originally drafted and full details of which can be read at http://www.cesr.eu/popup2.php?id=7009 .
A senior regulator with the FSA in the UK has been chosen to chair a committee of...