FSA and CESR make preparations for Mifid
LONDON - The UK Financial Services Authority (FSA) has published a policy statement and handbook text that finalises its transposition of the Markets in Financial Instruments Directive (Mifid) for FSA-regulated firms and markets ahead of the EU deadline of January 31.
The Committee of European Securities Regulators (CESR) is also out with the first of its Level 3 recommendations for the implementation of Mifid, concerning record-keeping and the publication of market data. Alongside this, CESR has launched consultation papers on best execution and transaction reporting.
On the positive side, industry players now have a wealth of information on which to base their implementation decisions. And vendors, waiting on the sidelines for too long, can now begin to
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