ESMA appoints new securities and markets stakeholder group
04 December 2018 Paris
Image: Shutterstock
The European 麻豆传媒 and Markets Authority (ESMA) has published the new list of members for its securities and markets stakeholder group (SMSG), following its approval by its board of supervisors.
The group will be composed of financial market participants (10), employee representatives (one), consumer representatives (eight), users of financial services (three), small and medium-sized enterprises (two) and academics (six), and they will represent ESMA鈥檚 key stakeholder constituencies.
The new SMSG will consist of 15 new members and 30 individuals in total, from across 18 member states, and they will replace the current group whose mandate expires on 31 December this year.
According to ESMA, of the 15 new members, nine are beginning a second term, and six joined the previous group at later dates and are still in their current term.
At least four times a year, the SMSG meets as well as twice a year with ESMA鈥檚 board of supervisors. Their advice and opinions are published on ESMA鈥檚 website.
The SMSG is established according to ESMA鈥檚 founding regulation and facilitates consultation between ESMA and its key financial market stakeholders on its work.
Additionally, it can inform ESMA of any inconsistent application of European Union law as well as inconsistent supervisory practices in member states.
Steven Maijoor, ESMA chair, said: 鈥淭he SMSG plays an important role in ESMA鈥檚 policymaking discussions, providing us with valuable input on the potential impact our policy and regulatory activities may have on the EU鈥檚 financial markets and their users.鈥�
鈥淭he broad geographical representation in this SMSG will help ensure that the voices from all markets across Europe are heard, and I believe that this will contribute positively to ESMA鈥檚 focus on supervisory convergence.鈥�
He added: 鈥淚 would like to thank the outgoing members of the SMSG and look forward to working with their successors.鈥�
See the full list of members
The group will be composed of financial market participants (10), employee representatives (one), consumer representatives (eight), users of financial services (three), small and medium-sized enterprises (two) and academics (six), and they will represent ESMA鈥檚 key stakeholder constituencies.
The new SMSG will consist of 15 new members and 30 individuals in total, from across 18 member states, and they will replace the current group whose mandate expires on 31 December this year.
According to ESMA, of the 15 new members, nine are beginning a second term, and six joined the previous group at later dates and are still in their current term.
At least four times a year, the SMSG meets as well as twice a year with ESMA鈥檚 board of supervisors. Their advice and opinions are published on ESMA鈥檚 website.
The SMSG is established according to ESMA鈥檚 founding regulation and facilitates consultation between ESMA and its key financial market stakeholders on its work.
Additionally, it can inform ESMA of any inconsistent application of European Union law as well as inconsistent supervisory practices in member states.
Steven Maijoor, ESMA chair, said: 鈥淭he SMSG plays an important role in ESMA鈥檚 policymaking discussions, providing us with valuable input on the potential impact our policy and regulatory activities may have on the EU鈥檚 financial markets and their users.鈥�
鈥淭he broad geographical representation in this SMSG will help ensure that the voices from all markets across Europe are heard, and I believe that this will contribute positively to ESMA鈥檚 focus on supervisory convergence.鈥�
He added: 鈥淚 would like to thank the outgoing members of the SMSG and look forward to working with their successors.鈥�
See the full list of members
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