Securities and Markets Stakeholder Group

2014 © ESMA

Front row: Stavros Thomadakis, Pierre-Henri Conac, Angel Berges-Lobera, Anne Holm Rannaleet, SMSG Chair Jesper Lau Hansen, ESMA Chair Steven Maijoor, Salvatore Bragantini, Zsolt Nagygyörgy, Gabriele Zgubic-Engleder

Middle row: Niamh Moloney, Krzysztof Grabowski, Lindsey Rogerson, (behind), Sari Lounasmeri, Fernando Herrero, (behind), Alexander Justham, Jaroslaw Dominiak (behind), Giedrius Steponkus, Carmine Di Noia, Chris Vervliet (behind), Verena Ross (ESMA ED), Jan Maarten Slagter, (behind), Thomas Book, René Karsenti, Marina Brogi, Chrystelle Richard, SMSG Vice-Chair Judith Hardt

Back row: SMSG Vice-Chair Peter De Proft, Rüdiger Veil, Lubomir Christov, Guillaume Prache, Jean-Pierre Pinatton

Members CV Representing
Jesper Lau Hansen (Chair) Academics
Peter De Proft (Vice Chair) Financial market participants
Judith Hardt (Vice Chair) Financial market participants
Angel Berges-Lobera Academics
Thomas Book Financial markets participants
Salvatore Bragantini Small and medium enterprises
Marina Brogi Academics
Lubomir Christov Users of financial services
Pierre-Henri Conac Academics
Elizabeth Corley Financial market participants
Carmine Di Noia Financial market participants
Jaroslaw Dominiak Users of financial services
Krzysztof Grabowski Financial market participants
Fernando Herrero Consumers
Anne Holm Rannaleet Financial market participants
Christiane Hölz
Users of financial services
Rene Karsenti Financial market participants
Sari Lounasmeri Users of financial services
Antonio Mele Academics
Niamh Moloney Academics
Zsolt Nagygyörgy Financial institution employees
Jean-Pierre Pinatton Financial market participants
Guillaume Prache Consumers
Chrystelle Richard Academics
Lindsey Rogerson Consumers
Giedrius Steponkus Users of financial services
Rüdiger Veil Academics
Chris Vervliet Financial institution employees
Gabriele Zgubic Consumers


The Securities and Markets Stakeholder Group (SMSG) helps facilitate consultation by ESMA with stakeholders in areas relevant to ESMA’s tasks such as the development of technical standards and guidelines.

The SMSG is composed of 30 individuals drawn from across 17 Member States and representing ESMA’s key stakeholder constituencies:

  • Academics
  • Consumers
  • Financial institution employees
  • Financial market participants
  • Small and medium sized enterprises
  • Users of financial services

Members of the SMSG can submit opinions and advice to ESMA on any issue related to ESMA’s tasks, with particular focus on draft technical standards and guidelines, investigations of potential breaches of Union law by national competent authorities, building a common Union supervisory culture and consistent supervisory practices, peer reviews of national competent authorities and assessment of market developments. The group publishes an annual work programme setting out its priorities for the coming year.