CESR was honoured to welcome today a delegation of Members of the European Parliament from the Committee on Economic and Monetary Affairs (ECON) to discuss the work of CESR at its head quarters in Paris.
The visit lead by Mme Pervenche Berès MEP, Chair of ECON, was accompanied by a delegation including John Purvis MEP, Vice Chair of EMAC; Mr Zsolt László Becsey MEP; Ms Ieke van den Burg MEP; Ms Elisa Ferreira MEP, Mr Jean-Paul Gauzès MEP; Ms Piia-Noora Kauppi MEP; Mr Alain Lipietz MEP; Ms Astrid Lulling MEP; Mr Olle Schmidt MEP and Ms Margarita Starkevi?i?t? MEP.
The visit by Members of the Committee on Economic and Monetary Affairs reflects the willingness of the European Parliament to pursue regular contacts with CESR and reflects CESR’s accountability towards European Institutions, especially the European Parliament. Following the last visit of ECON’s Members to CESR, in March 2005, at which CESR and ECON members agreed to increase CESR’s dialogue with the European Parliament, CESR has participated in numerous hearings on specific issues and now appears before ECON on a half-yearly basis for hearings and an extensive exchange of views on CESR’s work programme, the next of which will take place on 3 June 2008.
Discussion today focused in particular on the recent turbulence in financial markets and the role of securities supervisors in strengthening confidence; notably discussion covered CESR’s work in relation to Credit Rating Agencies. In addition, an informal discussion on the role of CESR in the Lamfalussy procedure and in particular, the efforts made by CESR to improve co-operation and regulatory convergence amongst CESR’s Members took place.
Mr Eddy Wymeersch, Chairman of CESR noted: “CESR is very honoured to welcome the Members of ECON, represented by this delegation. Whilst CESR has regularly appeared before the Members of ECON to explain its activities, this visit provides a unique opportunity to underline CESR’s accountability to the EU institutions and particularly, to the European Parliament. We are particularly grateful for the support shown by ECON for our work and the regular dialogue between the Parliament and our Committee that has developed. This meeting offered an opportunity for a fruitful exchange of views on two of the most challenging issues: the current market turmoil and revision of the Lamfalussy process and the role that CESR can play in regard to both.”
