Consultations

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340 ALL CONSULTATIONS
Date Title Section Respond Info Summary Documents
From to Consultation on Non-equity transparency

CESR issued a call for evidence on 6 February 2007 asking for views on the Commission's questions. The response period closed on 6 March, and CESR has aimed to include the key points from the responses in this consultation paper (CP). The aim of this paper is to set out CESR's views on the...

From to CESR's technical advice on a mechanism for determining the equivalence of the generally accepted accounting principles of third countries

CESR publishes today a consultation paper entitled:

From to Call for evidence on UCITS Distribution

One of the elements CESR will need to consider in developing key investor information is the diversity of ways in which UCITS funds can be

From to Call for evidence on Key investor disclosures for UCITS

The UCITS Directive (85/611/EEC) requires the use of simplified prospectus (SP) for the purpose of informing clients before they invest in UCITS. The current content and format of the SP is considered not to have achieved its initial objectives, since documents are often overly long and...

From to Questionnaire on simplified prospectus for retail investors

The Simplified Prospectus (SP) is a disclosure document designed for retail clients buying units in a UCITS, to provide them with the information they need to make informed decisions about whether to invest in a particular fund or product. The full Prospectus is considered too long and technical...

From to Second consultation on Inducements under MiFID

In its consultation paper Inducements under MiFID published in December 2006 (CESR/06-687) CESR explained that it was considering issuing recommendations setting out a common supervisory approach to the operation of Article 26 of the MiFID Level 2 Directive , entitled "Inducements".
In...

From to Call for evidence - non-equities markets transparency

CESR is inviting all interested parties to submit their views regarding transparency on bond markets. CESR would like to point out that, as indicated by the request, the purpose of CESR work is not to duplicate the work of the Commission. Therefore there is no need to re-submit those responses...

From to Clarification of the definitions concerning eligible assets for investment by UCITS: can hedge fund indices be classified as financial indices for the purpose of UCITS?

The purpose of this consultation paper is to describe CESR's conclusions on Hedge Fund Indices, and to propose draft measures.
The measures proposed will be adopted by CESR at "Level 3". Level 3 measures concern strengthened co-operation between (national) regulators to ensure consistent...

From to Consultation on Best execution under MIFID

Comments are invited on all aspects of this paper but where we anticipate that feedback will be particularly useful, we have directed stakeholders to some issues for particular comment. Given that the issues this paper addresses are likely to attract a broad range of interest, we intend to hold...

From to Consultation on CESR Level 3 Guidelines on MiFID Transaction reporting

Article 25 of MiFID establishes a transaction reporting regime where investment firms shall submit reports of executed transaction to their competent authorities regarding financial instruments admitted to trading on regulated markets. The reports can be made either by investment firm itself, a...

From to Consultation on Inducements under MiFID

Article 19(1) of the Level 1 Markets in Financial Instruments Directive 2004/39/EC ("MiFID") provides that when providing investment services and/or, where appropriate, ancillary services to clients an investment firm must act honestly, fairly and professionally in accordance with the best...

From to Consultation on Use of reference data standard codes in transaction reporting

CESR launches a consultation on the use of reference data standard codes in transaction reporting. From 1 November 2007 investment firms will report the transactions that they have executed to their local Competent Authority in accordance with Article 25 in the MiFID Directive. Competent...

From to Consultation on The Passport under MiFID

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...

From to Call for evidence on the supervisory functioning of the Prospectus Directive and Regulation

Directive 2003/71/EC on the prospectus to be published when securities are offered to the public or
admitted to trading (

From to 2nd set of Draft Guidance on the Operation of the Market Abuse Directive for public consultation

CESR launches a 2nd set of draft guidance for public consultation on the operation of the Market Abuse Directive. Following the first two years of experience gained under the new market abuse regime, CESR is of the view that this is the right time to provide further guidance to market...

From to CESR's Issues Paper - Can hedge fund indices be classified as financial indices for the purpose of UCITS?

When CESR published its final advice to the European Commission on clarification of the definition concerning eligible assets for investments by UCITS , one matter was left outstanding. This short paper seeks views from market participants on issues related to that matter

From to 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...

From to Consultation on the Publication and Consolidation of MiFID Market Transparency

MiFID introduces a harmonised regime for publication of market transparency information, at the same time it opens up the market for more competition in trading.
In order to ensure smooth functioning of the publication of pre and post trade information as well as the consolidation of this...

From to Consultation on CESR Work Programme on MiFID level 3 Work

The Markets in Financial Instruments Directive (2004/39/EC)

From to Questionnaire on the day-to-day application of the IOSCO code by the Credit Rating Agencies

On 30 March 2005, at the request of the European Commission, CESR delivered its advice (CESR/05-139b) regarding the potential options to regulate Credit Rating Agencies. In its advice, CESR proposed not to regulate the Credit Rating Agencies (CRAs) industry at an EU level for the time being, and...

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