CESR consultation on possible implementing measure

CESR consultation on possible implementing measure

CESR is today releasing a consultation paper on possible detailed technical measures needed to implement the proposed Directive on Prospectus to be published when securities are offered to the public or admitted to trading (Ref. CESR/03-162 and Annexes). These measures are being developed on the basis of a provisional mandate given to CESR by the European Commission published on 27 March 2002 and an additional provisional mandate published on 7 February 2003. Under these mandates, CESR has been asked to widely consult all interested parties according to the principles set out in the Final Report of the Committee of Wise Men and to provide its advice to the Commission on the appropriate measures by three different deadlines: 31 July 2003, 30 September 2003 and 31 December 2003. The consultation paper released today addresses the technical advice required by 30 September 2003.