CESR delves deeper into MAD consultation this hed spec or the other?
BRUSSELS - After receiving mixed responses to its latest consultation on the Market Abuse Directive (MAD), the Committee of European Securities Regulators (CESR) has issued yet another consultation looking in-depth at how this particular piece of EU legislation is working.
Responding to the CESR's initial MAD consultation, Evaluation of the Supervisory Functioning of the EU Market Abuse Regime, key industry players found some areas of agreement about what isn't working in the legislation.
The British Bankers' Association (BBA) had two broad responses - that there has been insufficient harmonisation across the Member States in interpretation of the Directive, and that European Union (EU) regulators have yet to fully recognise the differing nature of equity and debt
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