Call for Evidence - CESR starts work on EU Commission provisional mandates on the new Investment Services Directive - the Financial Instruments Markets (FIM) Directive

The European Commission published today its first set of provisional mandates requesting CESR's advice on possible technical measures to implement the proposed Financial Instruments Markets Directive (FIM) which will revise the existing Investment Services Directive (ISD). The decision to revise the ISD, originally adopted in 1993, reflects common agreement that structural changes in EU financial markets requires legislation to be adapted in order to advance integration of the single market in financial services. The FIM will form the cornerstone of the EU's securities regulatory regime, and is intended to deliver an effective