The European Securities and Markets Authority (ESMA) has published the new list of members of its Securities and Markets Stakeholder Group (SMSG) following its approval by ESMA’s Board of Supervisors. The selected individuals began their 2½ year term on 1 July 2016.
The new SMSG is composed of 30 individuals drawn from across 13 Member States and representing ESMA’s key stakeholder constituencies – financial market participants, employee representatives, consumer representatives, users of financial services, small and medium-sized enterprises and academics.
Jennifer Payne, Professor of Corporate Finance Law at the University of Oxford and member of the editorial board of the Oxford Business Law Blog, has been appointed as one of the 7 academics of the SMSG. Professor Payne said: “I am delighted to have been appointed to this group. It is particularly important, in these difficult political times, to ensure effective and stable financial markets within the EU and the SMSG plays an important role in this process.”
The SMSG meets at least four times a year at ESMA’s offices in Paris, and also meets twice a year with ESMA’s Board of Supervisors. The SMSG helps to facilitate consultation between ESMA, its Board of Supervisors and stakeholders on ESMA’s areas of responsibility and provides technical advice on its policy development. The SMSG ensures that stakeholders contribute to the formulation of policy from the beginning of the process.