The European Commission (EC) is taking measures to improve security and possibly include spot market trading in future financial markets regulation, Financial Times reports. The EC closed transactions in all emission trading system (ETS) national registries, out of which some have been reopened and two-thirds of the 30 country-bloc have yet to be given clearance to reopen.
The EC has proposed to include the regular review of security for national registries, which serve as electronic repositories, and tightening procedures for third parties to open registry accounts. The commission, which seeks to review the level of market oversight and examine the classification of allowances as financial instruments, will ask member states to use existing European Union legislation to prevent VAT fraud.
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