Committee of European Securities Regulators

The Committee of European Supervisory Authorities for the securities sector ( Committee of European Securities Regulators, CESR) was one of the European Union ( EU) level 3 committee within the Lamfalussy procedure. It was established in accordance with a decision of the European Commission in the wake of the final report of the Wise Men chaired by Baron Alexandre Lamfalussy de and took on 6 June 2001 on his work. These were an independent Committee of European Securities Supervisors based in Paris. By decision of the European Commission of 23 January 2009 establishing a European System of Financial CESR with effect from 1 January 2011 the European Securities and Markets Authority (European Securities and Markets Authority, ESMA) worked.

Role and composition

Task of the committee was under the Lamfalussy process to promote cooperation in the securities being and regularly exchange information. The committee should help to ensure that the directives of the European Community are uniformly implemented and the securities regulatory practices of Member States closer together. It should improve cooperation, including the exchange of information regarding individual supervised institutions.

CESR was composed of senior representatives of the EU national securities regulators. Representatives from countries in the European Economic Area outside the EU enjoyed a status as permanent observers.