David Lawton spoke on the European policy agenda for regulatory change and the ways in which the reforms will change the information available to market participants and regulators. He said the primary market has concerns around how much information should be available about investment positions, while on the trading side the key information issues are about transparency. In non-equity markets, he said it will be important to assess the impact of transparency, particularly on liquidity. He then turned to transaction reporting and post-trade regulatory data. (Source: David Lawton Speech on Transparency)