Mifid sanctions and enforcement structures across Europe evaluated
PARIS - The Committee of European Securities Regulators (Cesr) has issued a review of supervisory powers and practices, just over a year after the implementation of the Markets in Financial Instruments Directive (Mifid).
The review maps administrative and criminal sanction structures in place for the long-awaited directive, finally rolled out across the European Union in November 2007.
The report is a factual overview of the implementation of Mifid. Although it covers powers, practices and sanctioning regimes, it does not specify examples of the use of sanctions and enforcement in practice.
The review, 'CESR report on the mapping of supervisory powers, supervisory practices, administrative and criminal sanctioning regimes of member states in relation to the Markets in Financial Instruments Directive,' is available to download here.
More on Operational Risk
Need for strong boards, risk culture and internal audit emphasised at IIA conference
KRIs for rogue trading are vital defence against multi-billion-dollar losses from unauthorised trading
Figures from the US Financial Crime Enforcement show a near-record level of suspicious transactions, especially around money laundering
Common cultural practices may span the divides between financial institutions – promoting common operational risks
Sign up for Risk.net email alerts
Catch up with the debate at OpRisk's flagship London conference
Sponsored video: Elseware
Oxford professor David Vines argues that the carrot is as important as the stick
Sponsored webinar: IBM
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.