CESR Contributes To The Evaluation Of The Lamfalussy Procedure, And Publishes Its Proposal For Evolution Of EU Securities Supervision Beyong 2007

By the end of 2007, the EU will carry out a full review of the Lamfalussy approach for the regulation of European Securities Markets. Within this context, CESR has contributed with several reports showing significant achievements outlining that in six years the EU has very successfully delivered the legal framework necessary to create a genuine single market for financial services.

The proposal published today should be read in conjunction with a joint consultation paper (ref. CESR/07-775) of the 3 Level 3 Committees defining cross-sector key working priorities for the next 2-3 years and underlining supervisory issues that CESR has in common with CEBS and CEIOPS.