A sub-committee made up of representatives from the QCA's Markets & Regulations Committee prepared this response to the Committee of European Securities Regulators' (CESR) consultation on transaction reporting in the context of MiFID. The response suggested that issuers be allowed to nominate/subcontracte to a provider for the collection and dissemination of all trade data (in a standard form) in its shares. It also noted that the current MiFID legislation’s definition of multi-lateral trading facilities (MTFs) is insufficient in recognising the different types and structures of MTFs for regulatory purposes and argued that the definition of a MTF redrafted to recognise the category of ‘MTFs with a primary market function’, in an effort to more accurately describe and regulate them.
QCA Response to CESR on MiFID Review
A sub-committee made up of representatives from the QCA's Markets & Regulations Committee prepared this response to the Committee of European Securities Regulators' (CESR) call for views on the functioning of MiFID, with the aim of providing advice to the European Commission on which areas of the Directive it should review in 2010.
