CESR Level 3 Recommendations on Minimum Records

09 February 2007

CESR published its first set of Level 3 recommendations which sets out the content of the list of minimum records that competent authorities need to draw up in accordance with Article 51(3) of the MiFID Level 2 Implementing Directive. This is accompanied by a feedback statement which provides a summary of the main comments received by CESR along with some explanations on CESR’s final approach to some of the most significant issues raised in the consultation.

The list is without prejudice of other record keeping obligations arising from other legislation. The list of minimum records in Level 2 is non-exhaustive and should not be understood as a limitation of the scope of Level 1 and Level 2.

CESR understands that compliance with the list does not provide investment firms with a safe-harbour from the record-keeping provisions in Level 1 and Level 2

During 2008, CESR will conduct a review to harmonise further in this area.

Press release
Level 3 Recommendations on the List of minimum records under Article 51
Feedback statement

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