EU Securities Supervisors Publish The Last Set Of Guidance To Implement The New Trading Regime In Europe (MiFID)

Today's announcement marks the culmination of CESR's Level 3 work programme in relation to MiFID, with the publication of the final MiFID Level 3 guidance and recommendation in relation to inducements, best execution, passporting and transaction reporting. These documents focus on the operational aspects that arise as a consequence of the provisions of the Directive and its implementing measures, and on identifying practical solutions to address the regulatory challenges to ensure certainty amongst market participants.

The following publications are presented in a press release:

CESR adopts recommendations on Passporting and a Protocol of Notifications. The recommendations on Passporting are accompanied by a Feedback statement.

Q&A on best execution and its Feedback statement .

CESR's recommendations on inducementsand its Feedback statement.

CESR's guidelines on transaction reporting and its Feedback statement.

All documents can be found online in the section Expert Groups/MiFID Level 3.