This Department activity aims at monitoring the definition of level 3 rules (national and Community) by competent Authorities. This is meant to be done by analyzing legislation and participating in the relevant consultations, aimed at achieving a consensus from the Industry on the definition of the standard of conduct of operators, in order to substantively implement the principles of the MiFID. The level 3 regulations have the goal of facilitating the consistent and uniform application of community legislation, by providing, in particular, a clarification on the impact of the new rules and regulations in order to resolve interpretation issues.