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SEC and CESR announce details for collaboration

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06 Jun 2004

In our News Story of 29 May 2004, we reported on that the US Securities and Exchange Commission and the Committee of European Securities Regulators have reached agreement for enhanced cooperation and collaboration on cross-border securities regulatory matters.

In a press conference held in Amsterdam on 4 June, SEC Commissioner Roel C. Campos and CESR Chairman Arthur Docters van Leeuwen presented the terms of reference establishing the structure of this enhanced dialogue, and set out four key issues that will dominate the agenda during 2004 and 2005, one of which is:

Development of an effective infrastructure to support the use of International Financial Reporting Standards, in particular with respect to consistent application, interpretation and enforcement of these standards with the final objective of avoiding reconciliation with local GAAPs.

Here are links to the SEC's News Release and CESR's Website.

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