European Commission sets up two committees dealing with more effective and speedier regulation of Europe’s securities markets
The European Securities Committee (ESC) will advise the Commission on securities issues. It will also function as a regulatory committee and adopt draft technical implementation measures, once it has been given the competences by the Council and the European Parliament under the co-decision procedure. The ESC will be made up of representatives from the Member States.
The Committee of European Securities Regulators (CESR) is an independent advisory body, which will help the Commission prepare the technical implementation measures. It is also made up of Member States’ representatives.