FESE response on Implementing Measures of Transparency Directive

18 April 2006

FESE issued its response to CESR's Consultation Paper on Possible Implementing Measures of the Transparency Directive supporting CESR’s proposal for a storage mechanism for regulated information. However, FESE states that the distinction made between dissemination and storage of regulated information should not rule out the possibility of one entity performing both functions. Moreover, competent authorities should be directly involved in establishing the OAMs. Moreover, given the potential conflict of interests between their role in the oversight of OAMs and their possible operation of OAMs, they should be subject to appropriate arrangements to manage these conflicts of interest.

Fese also advocates that as long as OAMs comply with the fundamental principles laid out in the Directive concerning the accessibility of regulated information, they should be free to determine their own business models, cost structures and to develop value-added services.

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