CESR was an independent body which was established by the European Commission under the terms of the European Commission's Decision of 6 June 2001 (2001/527/EC). CESR advised on the technical details of securities legislation to enhance co-operation between the European Union and national supervisory authorities.

From 1 January 2011, CESR was replaced by the European Securities and Markets Authority (ESMA). For further information, see the ESMA website.