On August 9, the Committee of European Securities Regulators (CESR) published a document responding to requests from the European Commission for technical advice on Non-equities transparency. CESR has concluded, in co-operation with different market participants, that it has not recognized evident market failure in relation to market transparency which would warrant mandatory transparency for bonds and that some re-distribution of the existing transparency information could be useful to help retail participants.

CESR has also published an initial fact-finding exercise on the regulation and operation of commodity and exotic derivatives in European Union Member States in response to the European Commission’s request for a compilation of responses from CESR.