CESR has published three consultation papers relating to its technical advice to the European Commission as part of its review of MiFID. CESR is seeking comments on three areas: investor protection and intermediaries; equity markets and transaction reporting. In these three consultation papers, CESR addresses areas of the MiFID legal framework where it has identified the need for improvement, including quality, cost and consolidation of post trades, transparency data and delays in the publication of such data. Also with the global financial crisis in the background, regulators have seen the need to focus more on selling practices for certain financial instruments so as to further improve the protection of investors, in particular retail investors. A public hearing will be held in Paris in the middle of May where these issues will be discussed. Feedback statements on these consultations will be published in July.