The CESR-Pol Standing Committee has responsibility for CESR work related to the sharing and exchange of information (including in relation to uncooperative jurisdictions) and to the co-operation and coordination of surveillance and enforcement activities between CESR members.

In particular, the Standing Committee conducts operational work in relation to enforcement of securities laws, conducts operational work on market surveillance and carries out the functions contemplated by Article 8 of the CESR MMoU on the exchange of information and surveillance of securities activities.

In terms of policy, the Standing Committee has responsibility for elaborating Level 2 advice and Level 3 measures on the Market Abuse Directive with a view to ensuring harmonised implementation of the European Union legislation. The Standing Committee also advises the European Commission on the content of possible other European legislation in areas falling within its responsibilities. In addition, the Standing Committee reviews the operation of the MMoU and makes recommendations as to amendments thereof as well as examines further ways to enhance the sharing of information, co-operation and co-ordination of surveillance and enforcement activities between CESR members, and makes recommendations to CESR.

The Standing Committee engages in dialogue with non-European securities regulators and international organisations (including IOSCO) on issues within its area of responsibility.