In a letter to Mr Demarigny the European Banking Federation (FBE) replys to the
CESR call for evidence on the provisional mandates for the Investment Services Directive implementing measures.
FBE announced its concern that the Commission want to make more use of regulations for those forthcoming provisions that will directly regulate relations between an investment firm and its clients or employees. However, directives taking into account national jurisdictions and the highly heterogeneous structures in the member states, would be more feasible.
Working on Level 2 measures while the Level 1 legislation is incomplete poses certain problems. In full accordance with the IIMG principle FBE recommends CESR to postpone its work on the measures for the “best execution” part of the provisional mandate until after the Directive is adopted.
Document
© FBE
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article