On March 20, ISDA shared its position paper on better regulation and supervision within the European Commission’s (EC) Market Integration and Supervision Package (MISP) proposal with decision makers in the European Parliament, the Council of the European Union and the European Commission, outlining reform proposals on several issues, including:
- Appropriate sequencing of the effective dates in Level 1 (primary) legislation and the technical standards adopted at Level 2, which are meant to provide detail supporting consistent, definitive implementation of Level 1 legislation in financial services across the EU;
- Further enhancement of no-action relief processes;
- The inclusion of a secondary competitiveness mandate for the European Securities and Markets Authority; and
- Supervisory failures and suspension of services.
The EC’s MISP proposal falls under the Savings and Investment Union agenda and is currently subject to political negotiations in the EU.
Documents (1) for ISDA Paper on EC’s Market Integration and Supervision Package Proposal
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