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To avoid an overlap of supervision, FESE states that it must be possible that in each country the distribution of the supervision tasks is arranged between them in full co-operation. FESE also underlines a need for harmonisation and consistent wording in national legislations.
The Federation advocates a system of open lists based on decisions and positions taken by regulators and/or courts which could be regularly updated by simple publication on CESR’s website.
FESE stresses a need to ensure that a high level of consistency is reached across Europe on the operational issues with regard to insider lists and urges all institutions involved to avoid overregulation.