.jpg)
The Committee of European Securities Regulators (“CESR”) is continuing its efforts to prepare ground for convergent application of various EU legislation concerning securities markets.
CESR’s peer pressure group, the “Review Panel”, was established in March 2003 as a key group for facilitating supervisory convergence. This is in line with the Commission decision (Ref: 2009/77/EC) updated 23rd of January 2009, which in its Article 6, requires CESR to have in place instruments to promote common supervisory practices. The necessity of having a peer pressure tool is reflected by Ecofin in its Conclusions of December 2007 following its review of the Lamfalussy process.
At its meeting on 27 January 2009, the Review Panel decided to publish this consultation paper in order to get feedback from market participants on practical issues related to divergences in securities regulation in different Member States. The contributions received from market participants will be assessed by the CESR Review Panel and, where appropriate, reflected in the work programme for 2009.
Responses should be submitted online, in the section Consultations, by 7 April 2009.
