CESR’s changing profile on supervisory convergence

02 August 2006

CESR decided to shift its priorities to more operational tasks so as to deliver effective supervisory convergence across the EU. The key rationale of the change in CESR’s profile is developed in its recent supervisory convergence report to the FSC.

Therefore, CESR amended its charter to include:

a more straightforward decision making procedure, including the possibility to vote;

a mediation mechanism between members to facilitate a rapid outcome;

the integration of the Review Panel into the Charter, which will permit a more thorough cross examination on the way in which members apply the new legal framework;

a commitment to respect data protection rules when developing databases;

greater legal certainty of confidentiality to allow the secretariat to fully assist the members on operational issues.

Press release
Charter of the Committee of European Securities Regulators
Protocol for a CESR Mediation Mechanism
CESR Mediation Mechanism Feedback Statement and Protocol
Terms of reference for CESR-Fin
Terms of reference for CESR-Pol
Mandate for CESR ECONET
Mandate for CESR-Tech
Work programme for MiFID

© CESR - Committee of European Securities Regulators