The European Commissions goal to have final proposals
in place for amendments to the Markets in Financial Instruments
Directive by May 2011 is overambitious considering the depth of
work required, say lawyers.
Its got a very ambitious timetable that I think
is also fairly unrealistic, said Patricia Horton, a
professional support lawyer at Herbert Smith in London.
If you look at the length of this document and how many
proposals there are...