CESR: Public Statement on Second Meeting of Market Participants Consultative Panel

04 February 2003




The Market Participants Consultative Panel held its second meeting on 13 January 2003 in Paris. Facilitated by Docters van Leeuwen, the Chairman of CESR, the discussion was mainly focussed on three different subjects:
  • the recent activities of the Committee;
  • the organisation of CESR work and priorities; and
  • the role and the organisation of the Panel.

    On the organisation of CESR work, the Panel discussed the work-plan for 2003, based on the tables identifying possible areas of Level 2 work by CESR in the areas covered by existing Directives (Market Abuse), proposal for Directives (Prospectuses, Investment Services and Takeovers) or future proposal for Directives (Regular Reporting).

    On the Market Abuse Directive, some members referred back to the discussion in the context of safe harbours, the definition of inside information and the exemption from disclosing information. Two member expressed concerns on the possibility to establish new safe harbours. Furthermore, support was given to the establishment of a list of insiders and persons having access to information.

    The next meeting of the Panel will be held in Paris, on Thursday 12 June 2003.

    Full meeting note

    © CESR - Committee of European Securities Regulators