CESR starts work on mediation mechanism amongst supervisors

08 April 2005

The Committee of European Securities Regulators (CESR) published the mandate and call for evidence towards the development of a mediation mechanism for national supervisors. This mechanism will need to conform to some underlying principles and will further strengthen efforts to converge supervisory practice at EU level by ensuring fairer implementation and application of CESR measures and EU law.

The decision follows a report by the Inter-Institutional Monitoring Group and the views expressed by the Council’s European Securities Committee, in which both proposed that CESR should consider establishing a mediation mechanism which goes beyond the Market Abuse Directive.

CESR has established a Task Force on Mediation chaired by Mr Manuel Conthe. Alexander Karpf from the CESR Secretariat will act as rapporteur. The Task Force will be composed of representatives of CESR Members and the European Commission.

Deadline for comments is 9 May 2005.
The final report by the Task Force will be ready by no later than early 2006.

Press release
Consultation document

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