FESE response to CESR Guidance on MAD Directive

08 February 2007

FESE published its response to CESR’s Consultation on the second set of CESR Guidance and Information on the Common Operation of the Directive to the Market. FESE believes that a number of aspects of the Level 3 are not functioning effectively because of the lack of a clear designation of the competent authority. FESE also criticizes the lack of consistency in the implementation of a number of areas of the market abuse regime where CESR could provide guidance and clarifications.

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