CESR issued an overview about the actions to address key aspects of the financial crisis that fall under the competence of EU securities regulators.
CESR issued an overview about the actions to address key aspects of the financial crisis that fall under the competence of EU securities regulators. These include issues on short selling, investment funds, accounting, and clearing and settlement. The work will be undertaken in close co-ordination with CEBS and CEIOPS, including in liaison with IOSCO.
• Short selling: CESR is investigating how to promote further convergence of national decisions to the extent possible and appropriate, while providing better clarity to the markets. It will reinforce the co-operation among Members in respect of concrete enforcement cases relating to the short selling ban.
• Investment Funds: CESR is closely monitoring the impact of recent market events on the orderly functioning of investment funds.
• Investor protection initiatives: CESR will review the impact of the default of Lehman Brothers by co-ordinating the collection of data and investigations by Members into the rights of investors affected.
• Accounting: CESR will shortly release its final statement on fair value measurement and related disclosure requirements for financial instruments in illiquid assets. CESR Members will continue to monitor the application of accounting standards during this period and follow up on any new developments.
• Clearing and settlement: CESR Members are closely monitoring the orderly functioning of post-trading infrastructures to ensure the smooth finalisation of transactions during this period of instability.
Press release
© CESR - Committee of European Securities Regulators
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