The Committee of European Securities Regulators (CESR) has issued a public statement regarding the introduction of a new working structure to increase its efficiency and prepare for a smooth transition to the European Securities and Markets Authority (ESMA).
From January 2010, CESR will conduct its work through Standing Committees dealing with issues ranging from corporate reporting and finance to market surveillance and enforcement or secondary markets, intermediaries and credit rating agencies. Each of these Standing Committees will be supported by one or more member(s) of the CESR Secretariat.
A brief summary of the major roles that each Committee will play and their respective Chair is set out in an Annex to the statement.
CESR believes that by remodelling its internal organisation now it should be possible to ensure a smooth transition to ESMA, once it is created.