The Committee of European Securities Regulators (CESR) has published for consultation a draft statement on fair value measurement and related disclosures of financial instruments in illiquid markets. In relation to measurement the statement looks at the identification of active and non active markets and the use of valuation techniques. The statement also sets out key messages on disclosures. This includes good disclosure practices being a natural counterpart to the use of judgment in measurement practices. The deadline for comments on the draft CESR statement is 12 September 2008.

View CESR publishes for consultation a statement on fair value measurement and related disclosures of financial instruments in illiquid markets, 10 July 2008