CESR to take a coordinated effort to respond to the recent market turmoil
07 May 2010
Following the recent exceptional volatility in the securities and derivatives markets, CESR has decided to pay attention to potential breaches of conduct of business rules and cases of market abuse with a view to coordinating the actions of national supervisors.
Following the recent exceptional volatility in the securities and derivatives markets, Members of the Committee of European Securities Regulators (CESR) have decided in their regular meeting today in Barcelona, to intensify their close monitoring of these markets. In particular, they will pay attention to potential breaches of conduct of business rules and cases of market abuse with a view to coordinating the actions of national supervisors.
Due to the global characteristics of these developments, CESR and its Members will also closely liaise with non-European securities regulators, in particular both the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC), to ensure global co-ordination.
CESR-Pol, CESR’s Standing Committee which is responsible for ensuring market integrity and enhancing cooperation and exchange of information between CESR Members, will coordinate any cross-border investigations.
These actions are taken in line with CESR’s key tasks, i.e promoting the transparency, integrity and orderly functioning of EU securities and derivatives markets.
© CESR - Committee of European Securities Regulators
