FESE response to CESR’s Work Programme on MiFID

09 September 2006

FESE issued its response to the CESR’s Work Programme on MiFID Level 3 Work and broadly agrees with the issues included in each of the categories in the CP. The Federation also agrees with the prioritization included in the draft programme, with the exception of best execution and transaction reporting, where we believe work should start earlier in order to provide the necessary time for the industry to take Level 3 into account.

Throughout the work planned, FESE expects CESR to involve the industry closely in its work. For this reason, whether the work originates from a mandate of the Commission or from CESR’s own decisions, the industry should be informed of the emerging area of analysis as early as possible and in an open and transparent manner.

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