28 July 2005

CESR launched call for evidence on implementing measures on Transparency Directive

CESR launched a call for evidence on a mandate for technical advice on implementing measures concerning the Transparency Directive. The Commission asks to provide an opinion on how agreements of interoperability of Officially Appointed Mechanisms (OAMs) could be obtained, as well as an analysis of cost and funding implications for Member States at the initial stages of the creation of a EU-wide

CESR shall provide technical advice on a number of issues regarding the role of the Officially Appointed Mechanisms for the central storage of information for the Transparency Directive and on the role of the Competent Authority in supervising the OAMs, and provide an assessment of the costs of setting up an OAM that meets the standards.

Finally, CESR shall provide technical advice on the filing of regulated information by electronic means with the competent authorities, and on the alignment of this procedure with that of the filing with the OAM.

This second mandate follows CESR’s final advice which was submitted to the Commission on 30 June 2005 on other aspects of the Transparency Directive

CESR was also asked to submit an Interim Report on cost and funding of OAMs by end of April 2006.

Deadline for comments is 31 August 2005. An open hearing will be held in February 2006. A possible second consultation will take place in May 2006. CESR is requested to submit its technical advice by 30 June 2006.

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