Consultation on The list of minimum records in Article 51(3) of the MiFID implementing Directive

MiFID establishes that competent authorities shall draw up and maintain a list of the minimum records investment firms are required to keep. In this regard, CESR is considering, as described in its consultation paper (Ref. CESR/06-552), issuing a recommendation to its members with the content of the list of minimum records that competent authorities need to develop. It is important to note, however, that CESR is not proposing to harmonise the content of the different records in the list.
CESR is of the opinion that both investors and industry would benefit from a common approach to the list that the different competent authorities have to establish. This is in line with our objectives of (i) facilitating a consistent and timely day-to-day implementation of the regime, (ii) fostering supervisory convergence, (iii) facilitating the provision of cross-border investment services and activities, and (iv) ensuring a common minimum basis for investor protection.
Comments are welcomed by 27 November 2006 and can be submitted on CESR's website (as is the usual practice, under 'consultations').