CESR demands seat in Monitoring Group

22 September 2008

CESR has strong concerns regarding the composition of the Monitoring Group and refers to the fact that the composition of the Group should reflect the split of powers in the EU between the European Commission and CESR members.

Responding to the IASCF on the review of the Constitution, CESR has strong concerns regarding the composition of the Monitoring Group as CESR is of the view that it is essential to ensure the adequate representation of the interests of the EU securities supervisors in the Monitoring Group.

 

CESR members and other EEA members charged with the enforcement of IFRS play a very active role throughout Europe and have also an obvious and undeniable interest in safeguarding investors’ confidence in the effective functioning of capital markets, CESR states. CESR therefore considers it as a natural development that the Trustees are also accountable to the European enforcers and securities supervisors.

 

The composition of the Monitoring Group should reflect the split of powers in the EU between the European Commission and CESR members. CESR, therefore, demands a seat on the Monitoring Group.

 

Comment letter

© CESR - Committee of European Securities Regulators