Stacked white books on rules and regulations

European securities regulators launched a consultation on Thursday on possible reforms to the rules designed to prevent abusive trading.

The European Securities and Markets Authority (ESMA) has published a consultation paper on provisions of its market abuse rules that considers a wide range of issues, such as cross-border enforcement; the possible development of cross-market surveillance; trading prohibition and insider lists; and expanding the rules to cover spot FX contracts, among other things.

The ESMA said the consultation particularly impacts investors, investment firms and asset managers.

Feedback on the consultation is due by Nov. 29, and the ESMA is planning to hold an open hearing on the paper on Nov. 5.

It is aiming to produce final reforms by spring 2020.

Separately, the ESMA also issued new guidance today on certain investor protection issues, including best execution disclosure.