Consultation paper on CESR's/CEBS's technical advice to the European Commission on the review of commodities business  (CP 3L3 08 02)

Start Date: 15/05/2008

The Committee of European Securities Regulators (CESR) and the Committee of European Banking Supervisors (CEBS) are publishing today a consultation paper (CP 3L3 08 02) regarding the Joint Call for Technical Advice related to the review under Articles 65(3)(a), (b) and (d) of MiFID and Article 48(2) of the Capital Adequacy Directive (CAD III) issued by the European Commission in December 2007.

Following up on previous work, CESR and CEBS have been asked to give advice to the European Commission on certain issues concerning the regulatory treatment of firms that provide investment services in relation to commodity and exotic derivatives. In particular, the views of the Committees are sought on whether the MIFID and CAD treatment of this type of firm continues to support the intended aims of market and prudential regulation.