1. By 31 October 2007, the Commission shall, on the basis of public
consultation and in the light of discussions with competent authorities,
report to the European Parliament and to the Council on the possible
extension of the scope of the provisions of this Directive concerning pre
and post-trade transparency obligations to transactions in classes of
financial instruments other than shares.
2. By 31 October 2008, the Commission shall present the European
Parliament and the Council with a report on the application of Article 27.
3. By 30 April 2008, the Commission shall, on the basis of public
consultations and in the light of discussions with competent authorities,
report to the European Parliament and to the Council on:
(a) the continued appropriateness of the exemption provided for in
Article 2(1)(k) for undertakings whose main business is dealing on
own account in commodity derivatives;
(b) the content and form of proportionate requirements for the authorisation
and supervision of such undertakings as investment firms within
the meaning of this Directive;
(c) the appropriateness of rules concerning the appointment of tied
agents in performing investment services and/or activities, in particular
with respect to the supervision of them;
(d) the continued appropriateness of the exemption provided for in
Article 2(1)(i).
4. By 30 April 2008, the Commission shall present the European
Parliament and the Council with a report on the state of the removal of
the obstacles which may prevent the consolidation at European level of
the information that trading venues are required to publish.
5. On the basis of the reports referred to in paragraphs 1 to 4, the
Commission may submit proposals for related amendments to this
Directive.
6. By 31 October 2006, the Commission shall, in the light of discussions
with competent authorities, report to the European Parliament and
to the Council on the continued appropriateness of the requirements for
professional indemnity insurance imposed on intermediaries under
Community law.