Newsletter January 09: EU regulators consult on market transparency

PARIS – Less than 18 months after European regulators decided that there was no case for regulating bond market transparency, the subject is back on the agenda. In late December, the Committee of European Securities Regulators (CESR), which advises the European Commission on securities markets, launched a consultation on transparency in non-equity markets. This time the focus is not only on cash bonds, but also on credit derivatives and structured finance products, such as asset-backed securities and collateralised debt obligations.