CESR started a consultation on Best Execution under MiFID. To foster supervisory convergence
CESR intends to issue a number of recommendations that will set out a common approach in relation to the best execution requirements under MiFID.
The consultation paper sets out a number of practical proposals and questions for a common approach with respect of the following issues:
Contents of execution policy and arrangements;
Disclosure to clients;
Client consent;
Relationships between firms in chains of execution;
Review and monitoring;
Execution quality data.
The paper does not address the scope of application of the best execution requirements and all aspects related. CESR asked the Commission for clarification on some of these issues and is currently waiting for further guidance.
An addendum to this consultation paper will be published by CESR after having received a formal response from the Commission.
Deadline for responses is 16 March 2007.
Press release
Consultation paper - Best execution under MIFID
© CESR - Committee of European Securities Regulators
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