18 Jul. 2006 - The Markets in Financial Instruments Directive (2004/39/EC) “MiFID”, a key directive of the Financial Services Action Plan (FSAP) set up to achieve a harmonized legal framework for wholesale and retail financial markets within the European Economic Area, was passed on April 2004. While the draft implementing measures are to be finally approved in September this year, CESR is starting to prepare ground for convergent implementation and application of the new regime by ensuring a common approach to the operation of the Directive takes place throughout the EU amongst supervisors.
In releasing this consultation, CESR is inviting all interested parties to submit views as to what CESR should consider in its further work in the area of the MiFID, the different areas of Level 3 work indicated in the work plan and its priorities. The consultation process will contribute in identifying issues to be included in the Level 3 work program which will be defined by CESR, and will help CESR setting priorities on the different issues of the program. This document has been released on 18 July 2006 for an eight week comment period. CESR is therefore inviting all interested parties to submit their views by 11 September 2006 to Mr Fabrice Demarigny, Secretary General, by posting it on line in the section Consultations on CESR’s website (www.cesr.eu).