02 Nov. 2006 - CESR launches a 2nd set of draft guidance for public consultation on the operation of the Market Abuse Directive. Following the first two years of experience gained under the new market abuse regime, CESR is of the view that this is the right time to provide further guidance to market participants regarding common understandings developed amongst supervisors with the intention of achieving a convergent application of the legal requirements on a day-to-day basis.
This work is intended to compliment the ‘Call for Evidence’ on the evaluation of the supervisory functioning of the EU market abuse regime. The consultation period on the ‘Call for Evidence’ closed on 31 October 2006 and responses are available on CESR’s website under past consultations. As part of the ‘Call for Evidence’ on the functioning of MAD, CESR organised a public hearing which took place on 17 October 2006, at CESR’s premises in Paris. At the hearing, market participants indicated that they had not only found the first set of CESR guidance issued in March 2005 helpful, but also requested further guidance.
Please post your answer online, in the section consultations.