Committee for Economic and Markets Analysis (CEMA)


Carlos Alves


Steffen Kern


The Committee for Economic and Markets Analysis (CEMA) has the responsibility to cover two broad areas:

  • Financial markets monitoring and analysis: pro-active identification, monitoring, and assessment from a micro-prudential level of trends, potential risks and vulnerabilities in financial markets across borders and sectors, including a thorough focus on financial innovations and incentives related to market practices both at the wholesale and retail level.
  • Cost-Benefit Analysis / Impact Assessment: contribution to better regulation by actively supporting ESMA’s commitment to Impact Assessments of existing and planned / proposed regulation and supervisory practice (ex ante and ex post Cost-Benefit Analyses / Impact Assessments).

CEMA Terms of Reference