|
Mr Purvis suggests a separate lightly regulated regime as the best option. The report suggests that regulation could be defined through the fast-track Lamfalussy process of decision-making in the securities sector and enforced by national authorities in the Member States. The Commission should therefore develop a “light-handed EU-wide regulatory regime” for sophisticated alternative investment vehicles (SAIVs)
Commissioner for the Internal Market, Frits Bolkestein welcomed the report as helpful for his services, but said, “it would seem neither necessary nor desirable to build a specific piece of legislation for derivatives, as it is a horizontal issue. The best way would be to consider updating the current different pieces of European legislation on a case-by-case basis.”