On 10 August 2009, the Committee of European Securities Regulators (CESR) published an updated version of its assessment of the proposals for MiFID pre-trade transparency waivers, first published in May 2009.

The update contained a new assessment of the application for a waiver on the basis of Article 18(1)(a) of the MiFID Implementing Regulation (Reference Price Waiver) that CESR considers not to be compliant with MiFID.

View Waivers from Pre-trade Transparency Obligations under the Markets in Financial Instruments Directive (MiFID) - Updated, 10 August 2009