On 3rd June 2008, FESE wrote to the SEC to ask for an Exemptive Relief for exchanges (similar to that planned under the revision of Exchange Act 15a-6) that would allow intermediated access to EU exchanges for wholesale investors. FESE argued that the SEC should give US institutional investors a choice of business model in accessing the EU markets and safeguard competition both in the US and in Europe. This short-term measure would be complemented by mutual recognition for broader categories of investors which FESE also supports. FESE also took the occasion to express support for reforming the exchange rule filing process in the US to ensure a level playing field between US and EU exchanges.
FTSE Mondo Visione Exchanges Index:
FESE Sends A Letter To The SEC On Mutual Recognition And The Revision Of Exchange Act Rule 15a-6
Date 09/06/2008