CESR And CEBS Launch A Joint Consultation On Their Advice To The European Commission On Commodities Business

The Committee of European Securities Regulators (CESR) and the Committee of European Banking Supervisors (CEBS) consult jointly on the Joint Call for Technical Advice related to the review under Articles 65(3)(a), (b) and (d) of MiFID and Article 48(2) of the Capital Adequacy Directive (CAD III) issued by the European Commission in December 2007.

The public consultation aims to gather industry feedback on the conclusions drawn from the market and regulatory failure analyses, and on the options presented for a possible future regime for commodities derivatives markets, in particular, the impact the application of any of these options would have as well as further input on certain issues. For this purpose specific questions have been inserted throughout the consultation paper. All interested parties are invited to send their comments to commodities@c-ebs.org by 1 August 2008. Unless explicitly requested otherwise, all responses received will be published on the CEBS (http://www.c-ebs.org/Consultation_papers/consultationpapers.htm) and CESR (www.cesr.eu) websites. Following analysis of the responses received, CESR and CEBS will deliver their final advice to the European Commission during autumn 2008.

This Consulation Paper is accompanied by a Press Release .