To respond to the provisional mandates for technical advice on the Financial Instruments Markets Directive (MiFID [ISD2]), CESR has established three Expert Group: the first covering market issues; the second covering ‘intermediaries’ issues and the third to focus on co-operation and enforcement issues. For more information and documentation on each of these groups please see the pages dedicated to each group.

A steering group has also been established to consider horizontal issues and to ensure overall consistency in the advice prepared by each expert group. The group consists of the three chairmen of the experts groups and chaired by CESR’s Chairman, Arthur Docters Van Leeuwen.

A consultative Working Group of market participants has also been appointed to provide technical advice to all three expert groups. The market participants are experts drawn from across the European Markets. They are not intended to represent national or a specific firms’ interest and do not replace the important process of full consultation with all market participants.