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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
01/10/2002 02-185b Annex C CESR consultation on possible implementing measure of the proposed Prospectus Directive – Annex C Consultation Paper PDF
85.86 KB
01/10/2002 02-185b Annex B CESR consultation on possible implementing measure of the proposed Prospectus Directive – Annex B Consultation Paper PDF
80.84 KB
01/10/2002 02-185b Annex A CESR consultation on possible implementing measure of the proposed Prospectus Directive – Annex A Consultation Paper PDF
212.14 KB
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
15/07/2002 02-089b CESR’s Advice on possible Level 2 Implementing Measures for the proposed Market Abuse Directive Consultation Paper PDF
213.95 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
10/07/2002 02-111 Press release- CESR establishes a Market Participants Consultative Panel Press Release PDF
32.67 KB
The regulation of the Single Market for Financial Services calls for enchanced harmonisation of rules and day-to-day regulatory practices. Following the Resolutions of the European Council and of the European Parliament endorsing the Lamfalussy Report, the Committee of European Securities Regulators (CESR) is asked to advise the EU Commission in the preparation of implementing measures of EU Directives. In excerising this role, CESR is committed to work in an open and transparent manner and widely consult practitioners, end-users and consumers as stated in its Public Statement on Consultation Practices (Ref. CESR/01-007b).In addition to this, a Market Participants Consultative Panel ("the Panel") is established to assisst CESR in the performance of its functions.
08/07/2002 02-098b A European Regime of Investor Protection – The Professional and Counterparty Regimes CESR Document PDF
63.43 KB
This paper completes the work conducted by CESR on the harmonization of conduct of business rules under the existing Article 11 of the Investment Services Directive. It complements the document (CESR/01-014d) adopted in April 2002 on the so called "retail regime", i.e. the regime applicable to investment services provided to non-professional customers. The paper builds on the proposal for the "Categorisation of investors for the purpose of conduct of business rules". The paper contains: I) core conduct of business rules which should apply to investment services between investment firms and professionals and II) core standards for "counterparty relationships".
08/07/2002 02-117 Press release- CESR adopts Final Standards for Alternative Trading Systems and Final Conduct of Business Rules to protect Retail and Professional Investors in Europe Press Release PDF
54.05 KB
During its fourth meeting in Copenhagen on June 11 and 12, 2002, CESR agreed on common European Standards for Alternative Trading Systems (Ref. CESR/02-086b) and on a harmonised professional and counterparty regime of investor protection (Ref. CESR/02-098b) that will complement the Retail Conduct of Business Rules (Ref. CESR/01-014d) adopted in April 2002.
08/07/2002 02-086b Standards for Alternative Trading Systems CESR Document PDF
124.16 KB
CESR published today common European Standards for Alternative Trading Systems (ATSs). This paper sets outs standards for ATSs in the European Economic Area (EEA) with a view to providing appropriate regulation of investments firms operating ATSs under the current ISD. It builds on FESCO's report to the European Commission on the Regulation of Alternative Trading Systems in Europe, which was published in September 2000. Also published today was a feedback statement summarising the responses received in the final round of consultation (Ref. CESR/02-087b)
05/07/2002 02-125 Press release- CESR consultation on Possible Implementing Measures of the Proposed Market Abuse Directive Press Release PDF
49.47 KB
CESR is today relasing a consultation paper on possible detailed technical measures needed to implement the proposed Market Abuse Directive (Ref. CESR/02-089b). These measures are being developed on the basis of a provisional mandate given to CESR by the European Commission.
20/04/2002 02-060 Summary of responses to the second consultation on Stabilisation and Allotment Final Report PDF
79.95 KB
09/04/2002 01-014d A European Regime of Investor Protection – The Harmonisation of Conduct of Business Rules CESR Document PDF
133.19 KB
This set of Standards and Rules provides harmonised core conduct of business rules for retail investors in the following areas: Standards and Rules of general application, information to be provided to customers, the "know your customer" standards and the duty of care, customers agreements, dealing requirements (including the "best execution" standards) and individual discretionary portfolio management. The profesional and counterparty regime, including the categorisation of investors paper, requires further work by CESR.
09/04/2002 02-020b Stabilisation and Allotment – European Supervisory Approach CESR Document PDF
93.51 KB
This paper provides harmonised standards for stabilisation practices in the context of a public offer and an harmonised disclosure regime for the Allotment of securities as well as some basic principles of the Allotment process. This work has not been elaborated under a formal mandate of the EU Commission in the context of the future Directives on Insider Dealing and Market Manipulation or the future Directive on Prospectuses. However, these standards represent an important "acquis" for any future work to be undertaken on the same subject. A summary of the responses to the second consultation (Ref. CESR/02-060) is published in the "Recent Publications".
27/03/2002 02-042 Press release- Major outcomes of the third meeting of CESR. CESR starts work under the Lamfalussy approach Press Release PDF
54.21 KB
27/03/2002 02-048 Possible implementing measures on Prospectuses- Request for advice and call for evidence Consultation Paper PDF
64.83 KB
In releasing the requests for technical advice from the European Commission, CESR is inviting all interested parties to submit views as to what CESR should consider in its advice on possible implementing measures under the draft Directive on Prospectus to be published when securities are offered to the public or admitted to trading (Prospectus).
27/03/2002 02-047 Possible implementing Measures on Market Abuse- Request for advice and call for evidence Consultation Paper PDF
65.86 KB
In releasing the requests for technical advice from the European Commission, CESR is inviting all interested parties to submit views as to what CESR should consider in its advice on possible implementing measures under the draft Directive on Insider Dealing and Market Manipulation (Market Abuse).
15/03/2002 02-005b Joint work of the European System of Central Banks and the Committee of European Securities Regulators in the field of Clearing and Settlement Consultation Paper PDF
46.78 KB
The joint work between CESR and the ESCB covers the possible adaptation of the IOSCO/CPSS recommendation to European environnment, an analysis of central counterparties clearing (CCPs) activities in Europe with a view to identifying a suitable regulatory approach and a review of the Giovannini report. At this stage of its work, the joint expert group is particularly interested in receiving views from all interested parties on these matters. Contributions should ideally be received before 6 May 2002.
05/03/2002 02-039b Interim Report on the Activities of CESR to the European Commission Annual Report PDF
59.08 KB
Interim report on the activities of the Committee of European Securities Regulators (CESR) to the European Commission and sent to the European Parliament and the European Securities Committee.
23/02/2002 EPResolution A5-0011/2002 Report on the implementation of financial services legislation Final Report PDF
52.6 KB