08 April 2005

CESR general methodology for reviewing implementation

The Committee of European Securities Regulators (CESR) issued a document for reviewing implementation, setting out the reasoning and objectives of the methodology as well as providing a procedural framework for the work of CESR's Review Panel.

The document aims to introduce a Methodology which will be guidance for assessing the implementation of CESR Standards and other Level 3 measures and will also be used as a tool to illustrate CESR’s interpretation of CESR Measures. Furthermore, the scope of the Methodology will, when articulated, cover the day-to-day application of the technical aspects of EU Directives and Regulations and of the European Commission’s Recommendations by the Members of CESR.

CESR intends to introduce this Methodology as general guidance for implementation reviews undertaken by CESR. In addition, this Methodology would serve CESR Members in the self-assessment that usually precedes an implementation review. Even though the first step in the review process is a self-assessment by each CESR Member, the final results published will be considered as the results of a common implementation review by CESR.

The document is split into two parts: the first part sets out the reasoning and objectives of the general methodology for implementation reviews undertaken by CESR, and the second part provides the procedural framework for the conduct of CESR implementation reviews and the general review criteria for these

Document

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