Draft Comment Letter -- Call for Evidence Regarding Private Placement Regimes in the European Union
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June 21, 2007
TO: INTERNATIONAL COMMITTEE No. 16-07 RE: DRAFT COMMENT LETTER -- CALL FOR EVIDENCE REGARDING PRIVATE PLACEMENT REGIMES IN THE EUROPEAN UNION
In April, the European Commission published a call for evidence regarding the necessity and feasibility of a private placement regime in the European Union. [1] The ICI has prepared the attached draft comment letter, which is briefly summarized below.
We have scheduled a conference call to discuss the draft comment letter on Monday, June 25, 2007 at 12:00 noon Eastern time. The dial-in numbers are 888-677-1819 in the United States and +1 210-234-0013 from outside the United States. The passcode is 4673144. Please send an email to Ruth Tadesse at rtadesse@ici.org to let us know if you plan to participate on the call. If you have comments, but are unable to join the call, please provide your comments to Susan Olson at solson@ici.org or 202-326-5813 before the time of the call.
The draft letter strongly supports the Commission’s efforts to develop a single market private placement regime and urges the Commission to move forward expeditiously. The letter generally describes the benefits of a single regime. We also included a brief description of the U.S. private placement regime as an example of a well-established regime that can offer the Commission insight into some of the important features of a private placement regime.
Susan Olson
Senior Counsel - International Affairs
endnotes
[1] European Commission, Internal Market and Services Directorate General, Call for Evidence Regarding Private Placement Regimes in the EU (April 2007), available at ec.europa.eu/internal_market/securities/ucits/index_en.htm#call.