CESR published today its 2008 Half-Yearly Report. The report complements CESR’s Annual Report for 2007, published in August 2008, and provides a half-yearly update on the activities of CESR to the European Commission, Parliament and the European Securities Committee.
In the first half of 2008, several of CESR’s work streams remained linked to one topic: the market turmoil and the implications it possibly could have on both securities market’s supervision and legislation. Through its different working groups CESR discussed the implications, lessons to be learnt and future steps to be taken with CESR Members, policy makers and market participants. Despite the necessary focus on the market crisis, CESR has sought to maintain a firm eye on progressing convergence and strengthening co-operation amongst supervisors in its work. The first 2008 Market Participants Panel that took place in April, also considered other major work streams of CESR, such as the post ECOFIN roadmap, CESR’s Work Programme and the joint work Level 3 work with with the Committees of European Banking (CEBS) and Insurance and Occupational Pensions Supervisors (CEIOPS) – all of which include important issues that will require comprehensive additional work in the second half of 2008 and beyond.
The 2008 Half-Yearly Report is available here.
