Response To CESR's Call For Evidence On The Possible CESR Level 3 Work On The Transparency Directive

In response to CESR’s call for evidence FESE believes that an assessment on the functioning of the Transparency Directive is premature as EU Member States are currently at different stages of implementation. It is our belief that the EU Member States should be allowed some time to implement the Directive - approximately one year – after which point it would be more feasible to identify potential issues or problems. Guidelines would however be welcomed on the issue of storage of regulated information as it is already evident that inconsistencies have arisen with Member States implementing this provision in very different ways.

FESE Response to CESR Possible L3 Work on TD_14SEP07.pdf