08 Sep. 2005 - At its meeting in Luxembourg on 28/29 January 2005, CESR decided to establish a “Mediation Task Force”, chaired by Manuel Conthe (Chairman of the Spanish CNMV), the Task Force was given the specific responsibility of developing a proposal for a CESR mediation mechanism as a tool for resolving disputes between CESR Members.
CESR is hereby responding to the requests as to the consideration of a general CESR mediation mechanism as raised, in particular, by the Inter-Institutional Monitoring Group, the European Securities Committee chaired by the European Commission, the European Parliament and other stakeholders.
Market participants have expressed support for a CESR mediation mechanism during the course of consultations on the Level 3 Action Plan for 2005 (Ref. CESR/04-527b) and the Himalaya Report (Ref. CESR/04-333f).
This Paper for Comments seeks to provide an overview of the preliminary considerations and views of CESR on a possible mediation mechanism. It takes into account the responses received on its Call for Evidence of 8 April 2005 (Ref. CESR/05-253).
All interested parties are invited to submit their comments online via CESR’s website under the heading “Consultations” at www.cesr-eu.org by 30th November 2005.