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CESR and CEBS are being asked jointly to give advice on certain issues concerning the regulatory treatment of firms that provide investment services in relation to commodity and exotic derivatives. In particular, the views of the committees are sought on whether the MIFID and CAD treatment of this type of firms continues to support the intended aims of market and prudential regulation.
CESR and CEBS are asked to consider if there are shortcomings in relation to commodities in the application of the CAD large exposures and free deliveries treatment, methods for the calculation of capital requirements and the obligation to uphold integrity of markets and conduct of business.
Furthermore, CESR and CEBS should set out, if the analysis of these issues varies in relation to the different types of entities providing investment services or the underlying financial instruments, in particular in relation to energy supply.
Finally CESR and CEBS are asked to provide advice on an appropriate regime for firms that provide investment services in relation to commodity and exotic derivatives, taking into account the different options presented in the CfA.
Deadline for contributions is