The Committee of European Securities Regulators ( CESR ) was an independent committee of European Securities regulators , in place from 2001 to 2010. On 1 January 2011, it was replaced by the European Securities and Markets Authority (ESMA).
18-753: CEBS may stand for: Committee of European Banking Supervisors , a former independent advisory group on banking supervision in the European Union Chitwan English Boarding School , a school in the Chitwan District, Nepal Centre for Excellence in Basic Sciences , an institute in Mumbai, India. Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with
36-916: A regular format as early as 1972 with the creation of the Groupe de Contact , the process of international coordination came more slowly to the securities space, if only because many European countries lacked an independent securities commission. Eventually, in 1989, the leaders of the Belgian Banking Commission (est. 1935, with its mandate expanded to securities in the 1960s), French Commission des Opérations de Bourse (COB, est. 1967), Italian Commissione Nazionale per le Società e la Borsa (CONSOB, est. 1974), UK Securities and Investments Board (SIB, est. 1985), Spanish Comisión Nacional del Mercado de Valores (CNMV, est. 1988), and Dutch Stichting Toezicht Effectenverkeer (STE, est. 1989) decided to gather regularly in an informal group which also included
54-559: A role in the establishment in 1974 of the Basel Committee on Banking Supervision . The Groupe de Contact continued activity, including after the establishment in 1998 of the European Central Bank and its Banking Supervision Committee, as a lower-level venue for addressing individual supervisory cases of common interest. The Groupe de Contact also produced studies that informed other policy processes, including at
72-832: The German Federal Ministry of Finance (as Germany had not yet established a federal securities authority). The group had its first meeting at the newly created Dutch authority in Amsterdam in November 1989, and the next ones in London (March 1990), Paris (June 1990), Rome (October 1990), and Brussels (January 1991). The founding members were soon joined by the chairs of the Luxembourg Commissariat aux Bourses (est. 1990) and Portuguese Securities Market Commission (CMVM, est. 1991). In 1997,
90-720: The Commissariat aux Bourses in 1998), UK Financial Services Authority (FSA, which replaced the SIB in 1998), and Iceland's Financial Supervisory Authority (FME, est. 1999). The European Commission participated in FESCO meetings as an observer. FESCO was in turn replaced by CESR in 2001. CESR was a product of the Lamfalussy process established by the European Commission on June 6, 2001. The role of this committee
108-557: The Commission in the field of banking regulation and supervision. [...] to establish a new organisational structure for financial services committees (OJ L 79, 24 March 2005, p. 9.), the Commission carried out a review of the Lamfalussy process in 2007 and presented its assessment in a Communication of 20 November 2007 entitled 'Review of the Lamfalussy process – Strengthening supervisory convergence' (COM(2007) 727 final.). In
126-554: The Committees to foster supervisory cooperation and convergence, and their role in assessing risks to financial stability. Therefore a reinforced legal framework regarding the role and tasks of the Committee in this respect should be provided. [...]" So the European Commission 's decision (2009/78/EC) of 23 January 2009, "for reasons of legal security and clarity", repealed, in its 16th article Decision 2004/5/EC, which changed
144-520: The Communication, the Commission pointed out the importance of the Committee of European Securities Regulators , the Committee of European Banking Supervisors and the Committee of European Insurance and Occupational Pensions Supervisors (hereinafter the Committees of Supervisors) in an increasingly integrated European financial market. A clear framework for the activities of these Committees in
162-1107: The EU's then 15 member states, plus Iceland and Norway in the European Economic Area in place since 1994): in addition to the Dutch STE, French COB, Italian CONSOB, Portuguese CMVM, and Spanish CNMV, these were the Central Bank of Ireland , Norway's Kredittilsynet (est. 1986), Denmark's Finanstilsynet (est. 1988), Belgium's Commission Bancaire et Financière (CBF, the new name of the Banking Commission since 1990), Greece's Capital Market Commission (est. 1991), Sweden's Finansinspektionen (est. 1991), Finland's Rahoitustarkastus (est. 1993), Germany's Bundesaufsichtsamt für den Wertpapierhandel [ de ] (BAWe, est. 1995), Austria's Bundes-Wertpapieraufsicht (BWA, est. 1997), Luxembourg's Commission de Surveillance du Secteur Financier (CSSF, which replaced
180-731: The European Council called for swift improvements to the functioning of the Committees of Supervisors (Council Conclusions 7652/1/08 Rev 1.). On 14 May 2008 (Council Conclusions 8515/3/08 Rev 3), the Council invited the Commission to revise the Commission Decisions establishing the Committees of Supervisors so as to ensure coherence and consistency in their mandates and tasks as well as to strengthen their contributions to supervisory cooperation and convergence. The Council noted that specific tasks could be explicitly given to
198-481: The European Union in the Lamfalussy process , together with the Committee of European Securities Regulators (CESR) and the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS). CEBS succeeded the Groupe de Contact ( lit. ' Contact Group ' , generally referred to by its French name), an informal gathering of banking supervisors that had existed since 1972 and played
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#1732775660592216-429: The European Union. European Economic Area countries which are not EU members participated as permanent observers. Its role was to: As part of the so-called Lamfalussy process , the Commission adopted Decision 2004/5/EC of 5 November 2003, establishing the Committee (OJ L 3, 7.1.2004, p. 28.). The Committee took up its duties on 1 January 2004, serving as an independent body for reflection, debate and advice of
234-555: The area of supervisory convergence and cooperation was deemed necessary. While reviewing the functioning of the Lamfalussy process, the Council invited the Commission to clarify the role of the Committees of Supervisors and consider all different options to strengthen the working of those Committees, without unbalancing the current institutional structure or reducing the accountability of supervisors (Council Conclusions 15698/07 of 4 December 2007). At its meeting on 13 and 14 March 2008,
252-586: The global level through the Basel Committee. Upon the creation of CEBS, the Groupe de Contact was subsumed into it as one of the CEBS expert groups. CEBS was established by the European Commission by Decision 2004/5/EC, and held its first meeting on 29 January 2004. Its charter revised on 23 January 2009, CEBS was composed of senior representatives of bank supervisory authorities and central banks of
270-780: The legal framework of the committee. On 1 January 2011, the committee was superseded by the European Banking Authority . Depending on national supervisory architecture, namely whether banking supervision was separate or not from the central bank, each member state had either one or two members in CEBS: Observers: The office of the Secretariat of the CEBS was located in the City of London, UK. Committee of European Securities Regulators While Europe's banking supervisors came together in
288-538: The securities commissions replaced their informal group with a more formalized organization, the Forum of European Securities Commissions (known as FESCO). The chairs of FESCO's member authorities usually met four times a year, and the organization also supported several expert groups on thematic regulatory issues, with a small permanent secretariat based in Paris. By 2000, FESCO's membership had grown to 17 authorities (those of
306-525: The title CEBS . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=CEBS&oldid=1192372451 " Category : Disambiguation pages Hidden categories: Short description is different from Wikidata All article disambiguation pages All disambiguation pages Committee of European Banking Supervisors The Committee of European Banking Supervisors ( CEBS )
324-553: Was an independent advisory group on banking supervision in the European Union (EU), active from its establishment in 2004 to its replacement on 1 January 2011 by the European Banking Authority (EBA) which took over all its tasks and responsibilities following Regulation (EC) No. 1093/2010 of the European Parliament and of the Council of 24 November 2010. CEBS was one of three so-called level-3 committees of
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