Archive for February, 2007

EC launches public MiFID website for frequently asked questions and answers

On this website stakeholders, including firms, trade associations and investors, can ask questions relating to the recently-finalised Markets in Financial Instruments Directive (2004/39/EC) (MiFID) and its implementing measures (Directive 2006/73/EC and Regulation 1287/2006). MiFID and its implementing measures together establish a comprehensive legislative framework at European level relating to the establishment and conduct of investment […]

Ministry of Finance (DK) transposed MiFID on time

The Ministry of Finance (DK) transposed MiFID into Danish legislation by 2007-01-30. FSA(DK) is still working on the regulations.

Joint response to CESR’s consultation on Inducements and Passport under MiFID

A joint industry response was sent on 2007-02-09 to CESR on its consultation on Inducements and Passport under MiFID.

CESR on Market Data Consolidation and Record Keeping

2007-02-09. CESR publishes its first set of CESR Level 3 Guidelines and Recommendations on the smooth application of MiFID - Market Data Consolidation and Record Keeping. These publications puts in place CESR’s first pieces of definitive Level 3 work, aimed at ensuring supervisory convergence among Members in the day to day implementation of Directive 2004/39/CE […]

Timetable for MiFID transposition into law in France, Germany, Italy, Sweden and the UK

Trade Associations in France, Germany, Italy, Sweden and the UK has collated a possible timetable for MiFID transposition into national legislation in their countries.

Joint industry response on CESR’s consultation on MiFID market transparency data

A joint industry response was submitted 2006-12-15 to CESR’s consultation on publication and consolidation of MIFID market transparency.

The Ministry of Finance (DE) has published draft legislation on MiFID

The Ministry of Finance (DE) (Bundesfinanzministerium) has published a draft legislation on MiFID.

CESR consults on Best Execution and on Transaction Reporting

CESR published on 2007-02-02 consultation papers regarding:

Guidance on supervisory convergence on Best Execution that covers most aspect save the scope of type of market where it is applied on which latter issue the EC is expected to publish its comments by mid February. Submissions to CESR are due 2007-03-16.
Level 3 Guidelines on MiFID Transaction reporting. Submissions to […]

FSA(UK) publishes notifications according to A4 in L2 Directive

31 January 2007.  Article 4 of MiFID’s Level 2 implementing Directive limits the scope for Member States to apply additional requirements in certain of the areas covered by MiFID. It sets out the conditions for creating or retaining such national requirements that go beyond MiFID and requires that these be notified and justified to the […]