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Maria Luís Albuquerque, who succeeded Vítor Gaspar in the Ministry of Finance of the Government of Pedro Passos Coelho is in a short list of three candidates for the leadership of the European Securities and Markets Authority (ESMA), a kind of Securities and Markets Commission of the European Union. The news was released by the daily Observador on Tuesday.
In addition to the Portuguese, the Italian Carmine Di Noita, commissioner of CONSOB (Commissioner of the National Commission of Companies and Stock Market), and the German Verena Ross, who is already competing for the position in the regulator of the European Union securities markets . holds the position of Executive Director of ESMA.
The list of the three finalists has already been sent by the European Securities Authority to the Council of the European Union and the European Parliament. “The candidates were selected on the basis of merit, skills, knowledge of the participants and financial markets and relevant experience in financial supervision and regulation, following an open selection procedure,” reads a note published by ESMA . The selection process began on July 15, 2020, and the new president will take office on April 1 of next year.
ESMA is responsible for “assessing risks to investors, markets and financial stability; define a single set of rules for the EU financial markets; promote convergence of supervision; and the direct supervision of specific financial entities ”.
After leaving the Government, the former Secretary of State and Minister of Finance of the Government of Pedro Passos Coelho, became a deputy and accepted the invitation to join the administration of Arrow, a debt management company that was dedicated to the valuation of assets. Banif’s toxic substances. The minister denied any “incompatibility”.
