Andres Trink to chair CESR expert group
The Committee of European Securities Regulators (CERS) appointed ANDRES TRINK, the Chairman of the EFSA Management Board as the leader of its expert group. The objective of the CESR's expert group is to prepare the disclosure requirements to be applied to companies publicly traded in Europe.
The objective of the expert group is to prepare proposals on implementation of disclosure requirements imposed on securities issuers by the Transparency Directive and offer suitable solutions how issuers should disseminate necessary information to investors. The expert group is composed of securities market specialists from different European countries. Also, a pan-European consultative group of market participants will be formed.
"It's a great challenge and an indication that we are trusted," said Andres Trink, Chairman of the EFSA Management Board. "By overseeing the work of the expert group, we are directly designing the operational standards for European financial services and a single market of financial services. The objective is to ensure that investors everywhere in Europe, including Estonia, will get adequate and uniform information about securities issuers. This will increase reliability, simplify and extend investment opportunities," added Trink.
The CESR's objective is to provide the European Commission with advice during the preparation of legal acts regulating the European securities market and to ensure consistency and fast implementation of relevant laws in member states. More detailed information about the CESR is available at http://www.cesr-eu.org. EFSA's representatives have been involved in the CESR's working groups since the end of 2002.
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