Responses
  Closing date : 21 Jan. 2005  
Consultation on CESR's draft advice on the second set of mandates from the European Commission on the Markets in Financial Instruments Directive (MiFID)

21 Oct. 2004 - CESR publishes today its consultation paper (CESR ref: 04-562) with its proposed advice responding to the second set of mandates from the European Commission on the legislative measures to implement the Markets in Financial Instruments Directive. CESR’s advice on this second set of mandates must be submitted to the European Commission by the end of April 2005. When completed, CESR’s advice on both this set of mandates and the first set of mandates received in January 2004 (which must be submitted by the end of January 2005), will assist the European Commission in developing a legal text which will take the form of either a Regulation or a Directive. This legislation will set out what is known under the Lamfalussy legislative process as Level 2 technical implementing measures. The draft technical advice on the second set of mandates under the MiFID covers aspects falling under two areas. The first aspect of this advice is related to Intermediaries and includes; the definition of investment advice and the list of financial instruments (article 4); the general obligations to act fairly, honestly and professionally (article 19.1); the suitability test (on article 19.4); the appropriateness test (article 19.5 article 19.6); the execution only business and the transactions executed with eligible counterparties (article 24). The second aspect of this advice relates to Markets; in particular, limit order displays (article 22) and pre-trade transparency of internalizers (article 27). Comments on the guidelines are welcomed by 21 January 2005 and can be submitted online via CESR’s website under the heading “consultations”.

       
24 Jan. 2005Banking
ABBL - Luxembourg Banker's Association
24 Jan. 2005Banking
ABN AMRO Bank
24 Jan. 2005Banking
Assogestioni
24 Jan. 2005Banking
ASSORETI
24 Jan. 2005Banking
Banca Intesa
24 Jan. 2005Banking
BIPAR
24 Jan. 2005Banking
British Bankers' Association
24 Jan. 2005Banking
Bundesverband Öffentlicher Banken Deutschlands - VÖB
24 Jan. 2005Banking
BVR
24 Jan. 2005Banking
Danish Shareholders Association
24 Jan. 2005Banking
EACB (European Association of Co-operative Banks)
24 Jan. 2005Banking
European Association of Public Banks - EAPB
27 Jan. 2005Banking
European Banking Federation
01 Feb. 2005Banking
European Savings Banks Group
24 Jan. 2005Banking
FDVA - French Financial Data Vendors Association
02 Feb. 2005Banking
Fédération Bancaire Française
24 Jan. 2005Banking
Financial Services Consumer Panel
24 Jan. 2005Banking
Gaselys
24 Jan. 2005Banking
German Electricity Association - VDEW
24 Jan. 2005Banking
GL TRADE
31 Jan. 2005Banking
HypoVereinsbank and BA/CA
24 Jan. 2005Banking
Independent Adviser
24 Jan. 2005Banking
Italian Bankers Association
24 Jan. 2005Banking
London Energy Brokers Association
24 Jan. 2005Banking
Norwegian Financial Services Association
11 Feb. 2005Banking
Realkreditrådet
24 Jan. 2005Banking
Spanish Banking Association
24 Jan. 2005Banking
The Danish Consumer Council
24 Jan. 2005Banking
Wholesale Markets Brokers Association
26 Jan. 2005Banking
ZKA
24 Jan. 2005Government regulatory & enforcement
Bank and Insurance Department of the Austrian Federal Economic Chamber
24 Jan. 2005Individuals
Chris Pickles
09 Feb. 2005Insurance, pension & asset management
AFIC
25 Jan. 2005Insurance, pension & asset management
Association Luxembourgeoise des Fonds d'Investissement
25 Jan. 2005Insurance, pension & asset management
Association of British Insurers
24 Jan. 2005Insurance, pension & asset management
BVI Bundesverband Investment und Asset Management e.V.
24 Jan. 2005Insurance, pension & asset management
Fefsi
24 Jan. 2005Insurance, pension & asset management
Investment Management Association
31 Jan. 2005Insurance, pension & asset management
Legal and General Investment Management Limited
24 Jan. 2005Insurance, pension & asset management
M&G Investment Management Limited
24 Jan. 2005Investment services
AFEI
24 Jan. 2005Investment services
ANASF - Associazione Nazionale Promotori Finanziari
24 Jan. 2005Investment services
APCIMS
24 Jan. 2005Investment services
APCIMS
24 Jan. 2005Investment services
Association of Members of the Athens Stock Exchange
24 Jan. 2005Investment services
Assosim
24 Jan. 2005Investment services
Barclays Capital
24 Jan. 2005Investment services
Bloomberg L.P.
24 Jan. 2005Investment services
BNP PARIBAS
24 Jan. 2005Investment services
British Venture Capital Association
24 Jan. 2005Investment services
Bundesverband der Wertpapierfirmen an den deutschen Börsen e.V.
24 Jan. 2005Investment services
Danish Bankers Association
24 Jan. 2005Investment services
EffasEuropean Federation of Financial Analysts Societies
24 Jan. 2005Investment services
Febelfin
24 Jan. 2005Investment services
Institut der Wirtschaftsprüfer in Deutschland
24 Jan. 2005Investment services
Irish Association of Investment Managers
24 Jan. 2005Investment services
ISDA, FOA, ISMA, IPMA, ANSC, BSDAI, BMA, DSDA, FASD, LIBA, SSDA, EFET, WMBA
24 Jan. 2005Investment services
ISDA; ISMA; IPMA; ANSC; BSDAI; BMA; DSDA; FASD; FOA; LIBA; SSDA
24 Jan. 2005Investment services
Prebon Marshall Yamane (UK) Limited
24 Jan. 2005Investment services
The Chamber of Brokerage Houses, Poland
24 Jan. 2005Investment services
The Finnish Association of Securities Dealers
24 Jan. 2005Investment services
Tradition Group
24 Jan. 2005Investment services
Weather Risk Managment Association
26 Jan. 2005Investor relations
Verbraucherzentrale Bundesverband e.V. (vzbv)
24 Jan. 2005Issuers
EURELECTRIC
01 Apr. 2005Issuers
EACT
01 Feb. 2005Issuers
Ealic
27 Jan. 2005Legal & Accountancy
Becker Büttner Held
24 Jan. 2005Legal & Accountancy
City of London Law Society Regulatory Committee
24 Jan. 2005Legal & Accountancy
Linklaters - Law
24 Jan. 2005Press
Reuters
25 Jan. 2005Regulated markets, exchanges & trading systems
APX
24 Jan. 2005Regulated markets, exchanges & trading systems
BME, Spanish Exchanges
31 Jan. 2005Regulated markets, exchanges & trading systems
Borsa Italiana
24 Jan. 2005Regulated markets, exchanges & trading systems
Deutsche Börse AG
31 Jan. 2005Regulated markets, exchanges & trading systems
Euronext
24 Jan. 2005Regulated markets, exchanges & trading systems
European Energy Exchange
31 Jan. 2005Regulated markets, exchanges & trading systems
Federation of European Securities Exchanges
24 Jan. 2005Regulated markets, exchanges & trading systems
IPE
24 Jan. 2005Regulated markets, exchanges & trading systems
London Stock Exchange
24 Jan. 2005Regulated markets, exchanges & trading systems
OMX Exchanges
24 Jan. 2005Regulated markets, exchanges & trading systems
The London Metal Exchange
24 Jan. 2005Regulated markets, exchanges & trading systems
TLX SpA
24 Jan. 2005Regulated markets, exchanges & trading systems
virt-x Exchange Limited
24 Jan. 2005Regulated markets, exchanges & trading systems
Warsaw Stock Exchange
24 Jan. 2005Regulated markets, exchanges & trading systems
Wiener Börse