.jpg)
The European Securities 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’s 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’s board of supervisors. Their advice and opinions are published on ESMA’s website.
The SMSG is established according to ESMA’s 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: “The SMSG plays an important role in ESMA’s policymaking discussions, providing us with valuable input on the potential impact our policy and regulatory activities may have on the EU’s financial markets and their users.”
“The 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’s focus on supervisory convergence.”
He added: “I would like to thank the outgoing members of the SMSG and look forward to working with their successors.”
See the full list of members here.
