CESR seeks to measure acceptance of Mifid
NEW YORK – Can't we all just get along? This is the question posed by the Committee of European Securities Regulators (CESR) in a recent publication on the EU's Markets in Financial Instruments Directive (Mifid). The words 'harmonious' and 'collaboration' pepper the 30-page report, which seeks to reach a consensus on how various countries will handle different regulatory regimes under Mifid.
Participants need "a common approach on the notification procedures ... and on the future collaboration between the home and host authorities", according to a report entitled The Passport Under Mifid.
The disparities between Mifid-related activities in the UK and continental Europe have been growing, ever since a large consortium of banks announced the creation of two Mifid-related projects, dubbed Project Boat and Project Turquoise. Absent from these projects are large banks from France, Italy
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