EU regulators will study reporting requirements

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12 Feb 2006

The three main committees of European Union financial regulators – the Committee of European Securities Regulators (CESR), the Committee of European Banking Supervisors (CEBS), and the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) – have published a common cross-sector work programme for 2006. The main goal of this supervisory cooperation is to enhance consistency in implementing EU legislation across financial sectors.

The work programme includes an examination of reporting requirements, including IFRSs:

The Committees will request input from relevant market participants to take stock of potential inconsistencies in reporting requirements stemming from sectoral EU directives applying to European supervised entities and market participants, taking into account IFRS. The Committees aim at presenting a first result of this inventory within the second half of 2006. Based on this inventory, future work may be proposed.

Click for (PDF 33k) and related (PDF 108k). CESR, CEBS, and CEIOPS are sometimes referred to as the '3 Level 3' regulators or '3L3'.

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