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The EBF made public its response on the CESR Work Plan of the MiFID L3 Expert Group for Q4/2007-2008.
FBE underlines the importance to ensure that the industry is consulted at all stages of CESR’s work. In particular, where the Q&A mechanism goes beyond summarising the conclusions of the issues that have been discussed industry must be centrally involved.
Looking at the issue of further convergence work and the related pragmatic cost and timing considerations, the FBE stresses that CESR should in due time have a fully-fledged consultation on the areas to be addressed for further convergence work.