CESR assesses disparities in supervisory control

The Committee of European Securities Regulators (CESR), which surveys EU rules on securities, has investigated whether national authorities have the same degree of power to enforce the market abuse and prospectus directives.

The organisation found that the general degree of equivalence to be high, but said the prospectus directive was implemented more effectively than the market abuse regulation. Problems did occur with the required disclosure of supervisory information under the prospectus directive, however.

Authorities followed the market abuse directive poorly when a delay in the publication of inside information