Brussels, 31/03/2006 (Agence Europe) - The European Commission has invited applications from qualified persons to join the forthcoming European Securities markets Expert Group (ESME). Interested candidates have until 30 April to apply and the final composition of the group will be decided in May 2006.
ESME will have three functions. Firstly, it will assist the Commission in its analysis of the legal coherence of the EU securities framework. Secondly, it will provide the Commission with input for the reports on the application, and will analyse the economic impact, of various directives: directive 2004/39/EC on Markets in Financial Instruments (MiFID), directive 2003/71/EC, the Prospectus Directive, directive 2003/6/EC on Market Abuse and directive 2004/109/EC on Transparency. Thirdly, it will provide technical advice, in response to specific requests from the Commission, on issues of contemporary relevance in EU securities markets, such as credit rating agencies and financial analysts.