CESR introduces new working structures to increase efficiency and to prepare for ESMA

As a result, from January 2010 on, CESR will conduct its work through Standing Committees (SC), dealing with issues ranging from corporate reporting and finance to market surveillance and enforcement or secondary markets, intermediaries and credit rating agencies. Each of these Standing Committees will be supported by one or more member(s) of the CESR Secretariat. Up to now, CESR's work was conducted by expert and operational groups, however, this will now be organised under eight SCs, two panels, and numerous taskforces and networks. Following the reorganisation, new chairs to lead the SC's work have been appointed. The restructuring of CESR has been considered carefully to ensure that the new responsibilities that the future new authority, known as the European Securities and Markets Authority (ESMA), is anticipated to receive, could be carried out effectively, if necessary, within this structure. By remodeling CESR's internal organisation now, it should be possible to ensure a smooth transition to ESMA, once it is created.

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