|
|
The Council released a Presidency document on the Management Company Passport. The document retraces the guarantees set out in the Presidency's compromise, which takes full account of CESR’s advice.
The document states that there is a need to take the appropriate measures to guarantee:
Ø Legal certainty for investors, professionals and supervisory authorities, by means of a clear and workable legal framework;
Ø Appropriate supervision, clear allocation of supervisory responsibilities and full cooperation between supervisors, including improved exchange of information between supervisors, to ensure that the management company passport is used in a way which is secure for investors.
The document is attached below