This consultation paper presents proposals and questions for a common approach on the notification procedures set out in Articles 31 and 32 of MiFID and on the future collaboration between the home and host authorities that will be necessary in order to guarantee efficient and consistent supervision of cross-border activities, taking into account the provisions of the directive included in chapter II of title IV.
8. The main aims of these proposals and questions can be summarized as follows:
- maximum harmonisation of the notification procedures;
- uniform interpretation of Articles 31 and 32;
- enhancing collaboration between host and home regulators during the authorisation and supervision phases;
- clarifying some aspects regarding the supervision of tied agents, Multilateral Trading Facilities (MTF) and representative offices.;
- elaboration of pragmatic solutions for the transition from the ISD passport to the MiFID passport;
- prioritisation of those aspects where investment firms need clarity in the short term.
CESR invites responses to this consultation paper. Respondents can post their comments directly on CESR's website (www.cesr-eu.org) under the section