Website esma.europa.eu Jurisdiction European Union | Founded 1 January 2011 Headquarters Paris | |
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Formed 1 January 2011 (2011-01-01) Preceding Committee of European Securities Regulators (CESR) Agency executives Steven Maijoor, Chairperson
Verena Ross, Executive Director Key document Regulation (EU) No 1095/2010 Predecessor Committee of European Securities Regulators (CESR) | ||
Politico morning exchange live with steven maijoor
The European Securities and Markets Authority (ESMA) is a European Union financial regulatory institution and European Supervisory Authority, located in Paris.
Contents
- Politico morning exchange live with steven maijoor
- Interview with steven maijoor european securities and markets authority 19 march 2013
- Overview
- References
ESMA replaced the Committee of European Securities Regulators (CESR) on 1 January 2011. It is one of the three new European Supervisory Authorities set up within the European System of Financial Supervisors.
Interview with steven maijoor european securities and markets authority 19 march 2013
Overview
ESMA works in the field of securities legislation and regulation to improve the functioning of financial markets in Europe, strengthening investor protection and co-operation between national competent authorities.
The idea behind ESMA is to establish an "EU-wide financial markets watchdog". One of its main tasks is to regulate credit rating agencies. In 2010 credit rating agencies were criticized for the lack of transparency in their assessments and for a possible conflict of interest. At the same time, the impact of the assigned ratings became significant for companies and banks but also states.