CESR Consultation on the Draft Public Statement of Consultation Practices

16 November 2001

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LIBA very much welcome CESR’s initiative, both in publishing a statement of consultation practices, and in consulting interested parties on its contents. This consolidates the great progress which has been made recently. All parties involved need to agree clearly at the outset on how legislators and regulators will publicise and consult on their activities. Agreement on consultation practices is also a crucial element of the implementation of the Lamfalussy Report.
The draft Statement provides a very promising foundation on which an effective consultation mechanism can now be built. To that end, we suggest below a number of further steps which are needed to make the Statement fully effective and to make CESR’s consultation thoroughly responsive, cooperative, and professional.

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