The Committee of European Securities Regulators (CESR) has published a review of how European securities regulators apply options and discretions under the Market Abuse Directive (MAD) regime. The report notes divergences, for example, on:

  • how supervisors disclose information on supervisory measures / sanctions;
  • the delay of publication of inside information; and
  • notifications of suspicious transaction reports.

The report also restates CESR's commitment towards increased convergence of supervisory practices in the EU.