From 1 November 2007 investment firms will report the transactions that they have executed to their local Competent Authority in accordance with Article 25 in the MiFID Directive.
Competent Authorities will exchange these reports in accordance with the Directive and implementing measures adapted by the EU Commission. The Competent Authorities are CESR Members. CESR proposes a set of ISO standards that could be used in this exchange. The internal use of these codes between the Competent Authorities will influence the choice of coding standards that investment firms will have to use in reporting to their local Competent Authorities.
CESR therefore arranges an open consultation on the use of standard codes. Comments are welcome on all aspects of the issue, and in particular on the questions included in the consultation paper. Please post your answer online, in the section consultations.
An Open Hearing will be held at CESR in Paris on 8th January 2007 13.00 - 16.00. Those who intend to participate in the open hearing should register for the Hearing online via CESR´s website under the heading Hearings.
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