The standing Sub-Committee on Enforcement provides a forum for CESR members to exchange views and experiences on methods for supervising the companies issuing listed securities.

The SCE contributes to the development and implementation of a common approach to the supervision and enforcement of financial reporting in Europe. Examples of which include the first standard on enforcement of financial information (the Standard n° 1 on Financial Information: Enforcement of standards on Financial Information in Europe). This standard n° 1 was published by CESR on April 2003.

In October 2003, CESR released for public consultation a second standard on enforcement prepared by the SCE of CESR-Fin. The second draft standard on enforcement of financial information proposed different mechanisms designed to establish appropriate co-ordination of enforcement practices on a pan-European level. The public consultation closed on 7 January 2004, and the SCE published the final version of draft standard No 2 on Financial Information – Co-ordination of Enforcement on 22 April 2004.

The SCE will develop further guidance and practical arrangements for the finalisation of the co-ordination mechanisms with relevant non CESR members, and in particular, for the creation and management of a database of enforcement decisions taken by EU national regulators.

The SCE also monitors other important enforcement topics, such as
• the powers given to enforcers to conduct investigations, including a review of the actions taken in cases of discovered infringements.
• enforcement of financial information in cross border listing cases; as well as the development of guidance on the methods of selection for determining the scope of enforcement.