Germany beats Italy at Esma, with Verena Ross from Germany chosen by the member states of the European Union to lead the European Financial Markets Authority.
Verena Ross has already been executive director of ESMA for the past ten years and in the previous twelve years, in various positions, she worked at the British Markets Authority Fsa, where she most recently assumed responsibility for the international division.
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Ross was competing with Carmine Di Noia, commissioner of Consob, the Italian market supervisory authority, who was at the top of the list of candidates sent by ESMA to EU states last November.
On March 31, the second term of the outgoing president, the Dutch Steven Majoor, expired, while on May 27 the second term of Ross also expired, already replaced at the operational guide of the Authority by Natasha Cazenave, coming from AMF, the ” Consob ”in France.
ESMA will have to write the equivalence rules to govern relations with Anglo-Saxon finance post Brexit, as well as manage the possible strengthening of supervisory powers, at European level, on the players of the EU capital market.