The Corporate Finance Standing Committee is responsible for developing all of CESR’s work relating to the Prospectus Directive and Corporate Governance. Additionally, it carries out CESR’s work with regard to major shareholding disclosure under the Transparency Directive, except in relation to how such disclosures are stored.

The Committee promotes greater efficiency in day-to-day work undertaken by supervisors; increases supervisory convergence and ensures the coherent application of rules across the membership.

In terms of developing technical advice and guidance, the Standing Committee has responsibility for elaborating Level 2 advice and Level 3 measures on the provisions of the Prospectus and Transparency Directives. In the area of Corporate Governance, the Corporate Finance Standing Committee will identify and consider a proposed CESR response to areas which relate to securities (as opposed to company) laws in the European Union, which are of interest and relevance to CESR members and which are not addressed by other CESR working groups. The Standing Committee also works to increase harmonised implementation of EU legislation. If needed or when requested, the Standing Committee also advises the European Commission on the need for possible changes to the appropriate Level 1 Directives.

Any correspondence regarding the work of this Committee should be sent to the CESR Secretariat.