This work should ultimately serve to increase convergence among CESR Members and will seek to strengthen investor protection, which are two key CESR objectives. It also represents an example of CESR’s role in providing technical advice to Europe
The paper sets out draft advice on such matters as general organisational procedures and arrangements, responsibility of senior management and the remuneration policy. In line with the proposals on organisational requirements and conflicts of interest, CESR’s approach to the advice on rules of conduct is to seek maximum alignment with the relevant MiFID provisions.
The advice includes requirements applying to the direct sale of UCITS
by management companies, as well as best execution, order handling and inducements.
The deadline of the consultation is 4 September 2009
© CESR - Committee of European Securities Regulators
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