Gérard Rameix Elected To ESMA’s Management Board

The Board of Supervisors of the European Securities and Markets Authority (ESMA) yesterday elected Gérard Rameix as a member of its Management Board, which is responsible for ensuring that the Authority carries out its mission and performs the tasks assigned to it under its founding Regulation.

Mr. Rameix, who is Chairman of the French Autorité des Marchés Financiers, replaces Kurt Pribil from Austria’s Finanzmarktaufsicht (FMA), who has recently left the FMA, on the Management Board.  The term will last until October 2014.

Gérard Rameix, Chairman of the Autorité des Marchés Financiers, said after his election:

“I am pleased to have been chosen by my Board of Supervisor colleagues to fill this position on the Management Board.  ESMA has an important role to play in the coming years in European securities markets, and I look forward to working with my colleagues to help ESMA achieve its objectives.”

The Management Board is chaired by Steven Maijoor, ESMA Chair.  Following yesterday’s election, the Management Board consists of:

• Karl-Burkhard Caspari, Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), Germany;
• Jean Guill, Commission de Surveillance du Secteur Financier (CSSF), Luxembourg;
• Raul Malmstein, Finantsinspektsioon, Estonia;
• Gérard Rameix, Autorité des Marchés Financiers (AMF), France;
• Julie Galbo, Finanstilsynet, Denmark and
• Martin Wheatley, Financial Services Authority (FSA), United Kingdom.

Background

1. More information and a recent photograph of ESMA’s Management Board can be found here: http://www.esma.europa.eu/mb.

1. The Board of Supervisors is the main decision-taking body of ESMA, consisting of the heads of the 27 national supervisors chaired by Steven Maijoor, ESMA Chair.

1. ESMA is an independent EU Authority that was established on 1 January 2011 and works closely with the other European Supervisory Authorities responsible for banking (EBA), and insurance and occupational pensions (EIOPA), and the European Systemic Risk Board (ESRB).

1. ESMA’s mission is to enhance the protection of investors and promote stable and well-functioning financial markets in the European Union (EU).  As an independent institution, ESMA achieves this aim by building a single rule book for EU financial markets and ensuring its consistent application across the EU.  ESMA contributes to the regulation of financial services firms with a pan-European reach, either through direct supervision or through the active co-ordination of national supervisory activity.