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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
10/05/2000 99-098e FESCO Proposes the creation of a European passport for issuers Final Report PDF
290.32 KB

In order to facilitate European Companies to make EU-wide based offers or listing in Europe, FESCO proposes to create a passport for European issuers. The paper proposes a cross-border use of the Shelf Registration system in the EU and explores other possibilities to facilitate the mutual recognition of prospectuses

29/06/2000 00-096l A European Regime Against Market Abuse Final Report PDF
70.68 KB
01/09/2000 00-099b Stabilisation and Allotment: «A European Supervisory approach» Speech PDF
68.35 KB
With this paper, FESCO proposes : (1) a harmonised regulatory treatment of stabilisation practices by way of defining a
25/09/2000 00-064c The regulation of Alternative Trading Systems in Europe. A paper for the EU Commission Final Report PDF
84.28 KB
Alternative Trading Systems (ATS) offer electronic securities trading facilities outside the traditional trading channels. An expert group chaired by Howard Davies, Chairman of the UK FSA, has studied the impact of such systems in depth. The group has prepared a comprehensive report identifying and assessing the benefits and risks associated with the emergence of ATS and analysing the current regulatory treatment of such systems, within Europe and elsewhere. The report proposes both a short term and a long term option for a harmonised regulatory treatment of such systems in Europe.The paper was submitted to the European Commission as FESCO"s contribution to the preparation of the forthcoming Green Paper on possible amendments to the Investment Services Directive. The Green Paper will shortly be published as a basis for consultation with Member States, the financial services industry and other interested parties. However, the FESCO paper noted that, while the Green Paper on the ISD might be the catalyst for a far-reaching review of the regulatory approach to ATS, it would not provide a short-term solution. Accordingly, FESCO proposed that the short-term solution should take the form of a set of additional regulatory requirements for ATS operating as investment firms.FESCO will be working on proposals for what those additional regulatory requirements might be over the next six months, with a view to producing a consultation paper in the first half of 2001. This consultation paper will provide an opportunity for interested parties to comment in detail on the FESCO proposals. If, however, in the meantime interested parties have any specific comments on the possible additional regulatory requirements identified in paragraph 71 of the September paper, they should make these known to the Secretariat of FESCO via the following e-mail address:
25/09/2000 Compilation-offering Status of implementation of the standards for participants in an offering Final Report PDF
569.8 KB
20/12/2000 00-138b A European Passport for Issuers- Report to the European Commission Final Report PDF
355 KB
01/08/2001 01-045fusion A "European Passeport" for issuers: An additional submission to the European Commission on the issue raised in paragraph 18 of the FESCO report of 20 December 2000 (Ref. Fesco/00-138b) Final Report PDF
223.73 KB
The last FESCO paper on a "European Passeport" for issuer, stated that in a member of areas, further work needed to be undetaken. FESCO has considered some of these issues and is now submitting for comment the following paper regarding disclosure requiremnents for products different from shares and ordinary bonds, the offer and a proposal on the content of the Pro Forma and the other financial information to be included in the propesctus. This complementary document is not intended to pre-empt any work to be undertaken by the Committee of European Securities Regulators in relation to the proposed directive on prospectuses. Rather this paper aims to complete aspects of the FESCO first paper and inform the subsequent work by the Committee. All comments received will be forwarded to the European Commission, unless respondent state otherwise.
01/02/2002 02-007b Measures to promote Market Integrity (Ref. CESR/01-052h) and Compilation of responses to the national consultation Final Report PDF
373.97 KB
23/02/2002 EPResolution A5-0011/2002 Report on the implementation of financial services legislation Final Report PDF
52.6 KB
20/04/2002 02-060 Summary of responses to the second consultation on Stabilisation and Allotment Final Report PDF
79.95 KB
13/07/2002 02-100b Responses to questionnaire on the control, scrutinising and approval of prospectus Final Report PDF
595.41 KB
Summary of the answers to a questionnaire on the way in which prospectuses are controlled, scrutinised and approved in all member states and on the deadlines allowed for the publication of the prospectus once it has been approved by the competent authority
01/08/2002 02-159 Summary of the responses to the ESCB/CESR call for contributions on European clearing and settlement systems Final Report PDF
60.37 KB
29/10/2002 02-198b First meeting of the CESR Market Participants Consultative Panel Final Report PDF
145.39 KB
Public statement on the first meeting of the CESR Market Participants Consultative Panel on 24 September 2002 in Paris.
08/01/2003 02-089d CESR's advice on Possible Level 2 Implementing Measures for the proposed Market Abuse Directive Final Report PDF
322.44 KB
CESR publishes today its technical advice, submitted to the European Commission on Tuesday 31st December 2002, on level 2 implementing measures in connection with certain aspects of the Directive on Insider Dealing and Market Manipulation (Market Abuse). The advice was requested by the Commission in accordance with the new Lamfalussy approach to regulating European securities markets, designed to build an integrated market in Europe. It is the first example of advice developed and submitted to the Commission under the new procedure.
29/01/2003 03-018 Second Meeting of the CESR Market Participants Consultative Panel Final Report PDF
89.28 KB
Public statement on the second Market Participants Consultative Panel held on Paris on 13 January 2003.
06/03/2003 03-055 A network of regulators to meet the challenges of regulating European Capital Markets by Arthur Docters van Leeuwen Speech PDF
96.06 KB
Text of the speech given by the CESR Chairman, Arthur Docters van Leeuwen, on 6th March 2003 at the Guildhall in London.
28/03/2003 03-087 Results of CESR's call for evidence on the second mandate on possible implementing measures of the future Market Abuse Directive Final Report PDF
150.95 KB
CESR publishes today the responses received to a call for evidence (Ref. CESR/03-037) on the second mandate to CESR, from the European Commission, for advice on technical implementing measures under the Directive on Insider Dealing and Market Manipulation (Market Abuse).
01/04/2003 03-015 Results of CESR’s public consultation on possible implementing measures for the future Prospectus Directive Final Report PDF
277.93 KB
02/04/2003 03-115 Speech by Kaarlo Jännäri, Vice-chairman of CESR, at the European Compliance Conference Speech PDF
101.85 KB
TECC Lucerne, 2-4 April 2003
23/04/2003 03-103 Results of CESR's public consultation on the second call for evidence to the consultation paper on possible implementing measures of the future Prospectus Directive Final Report PDF
129.02 KB
On 7th February 2003, CESR released the second request for technical advice (Ref. CESR/03-038) inviting all interested parties to submit views as to what CESR should consider in its advice to the European Commission. The results of CESR"s public consultation are being published today.