Assessment of CESR’s Activities between 2001 and 2007

SIFMA provides comments to the Committee of European Securities Regulators (CESR) on an assessment of CESR’s activities between 2001 and 2007.  SIFMA shares its experience and observations through this CESR questionnaire, which rates the CESR’s performance to date.  The questionnaire is a result of the CESR complying with part of the Stockholm Resolution that states the CESR “Should have the confidence of the market participants.

Since the establishment of CESR in September of 2001, CESR has delivered all its mandated level 2 advice in the securities field, and has also delivered level 3 measures, standards and recommendations and guidelines. CESR’s work is now increasingly focused on level 3 of the Lamfalussy structure and to fostering supervisory convergence in the day-to-day application of financial regulation.