The Committee was established under the terms of the European Commission.s Decision of 6 June 2001 (2001/527/EC) . It is one of the two committees envisaged in the Final Report. of the Committee of Wise Men on the regulation of European securities markets, chaired by Baron Alexandre Lamfalussy. The report itself was endorsed by Heads of State in the European Council ( Stockholm Resolution of 23 March 2001 ) and the European Parliament ( European Parliament Resolution of 5 February 2002 Ref:EPResolutions).

In summary, the role of CESR is to :

- Improve co-ordination among securities regulators : developing effective operational network mechanisms to enhance day to day consistent supervision and enforcement of the Single Market for financial services; Having agreed a Multilateral Memorandum of Understanding (MoU) , CESR has made a significant contribution to greater surveillance and enforcement of securities activities;

- Act as an advisory group to assist the EU Commission : in particular in its preparation of draft implementing measures of EU framework directives in the field of securities;

- Work to ensure more consistent and timely day-to-day implementation of community legislation in the Member States : this work is carried out by the Review Panel under the Chairmanship of CESR's Vice Chairman, and by the two operational groups: CESR-Pol and CESR-Fin.

http://www.cesr-eu.org

Annual Report:

http://www.cesr.eu/index.php?docid=5073