CESR published a set of documents to provide clarity and assist market participants in the transition toward smooth implementation of the MiFID Directive on 1 November 2007.
A common protocol for the supervision of branches under MiFID sets out a framework for co-operation between competent authorities under two different models:
- joint supervision conducted through common oversight programmes, and
- requests for assistance based on efficient allocation of supervisory tasks.
A statement to ensure continuity of current passports granted to investment firms under the ISD in cases of late transposition of MiFID. The practical arrangements on the passport under MiFID state that the passports of investment firms originating from late implementing States continue to be valid for any branches established in other Member States and for services they provide abroad without establishment.
An “Overview of MiFID Documents” is attached to the press release and contains a brief summary of all MiFID-related documents published.
Press release
Protocol on the supervision of branches under MiFID
Passport under MiFID
Protocol on MiFID Passport Notifications – revised
Overview of national discretions and options under MiFID level 1
CESR Response on commodity and exotic derivatives and related business
© CESR - Committee of European Securities Regulators
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