CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. EC Publishes Feedback On Transparency In Bond Markets

EC Publishes Feedback On Transparency In Bond Markets

by Ulrika Lomas, for LawAndTax-News.com, Brussels

14 November 2006


The European Commission on Monday published a feedback statement in response to its call for evidence on transparency in the bond markets and other non-equity markets.

The feedback statement relates to a report that the Council of Ministers and the European Parliament have asked the Commission to make by the end of 2007.

It will investigate whether and to what extent new requirements on pre- and post-trade transparency should be introduced at EU level to the trading in non-equity financial instruments such as bonds and derivatives. All interested stakeholders, including industry and individuals, were encouraged to reply to the call for evidence. The closing date was 15 September 2006.

Broadly, most industry feedback was to the effect that the MiFID transparency provisions that apply to equities should not be extended to apply to other instrument types such as bonds and derivatives.

On the other hand, there was industry support for exploring the possibility of self-regulatory measures to improve transparency, particularly for retail investors.

There was some support expressed by regulators, exchanges and consumer representatives for mandatory transparency to be extended to non-equities.

Lastly, there were a number of suggestions for enhancing non-trade transparency in a number of markets.

Internal Market and Services Commissioner Charlie McCreevy observed that:

"These are massively important markets – so the Commission is carrying out scrupulous, fundamental research as part of the better regulation approach. I note there has been a good response from 59 respondents from all parts of the EU and internationally. As we work towards defining our position we will take careful account of the views of the various legitimate interest groups and will only act in this area if we see a compelling case to do so that would materially benefit the operation of the market without harmful side-effects."


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »