Corporate Finance SC

CHAIR: Gerard RAMEIX, Chairman of the Autorité des marchés financiers, France

RAPPORTEUR: Vicki Erfurt LARSEN

The Corporate Finance Standing Committee is responsible for developing all of ESMA’s work relating to the Prospectus Directive and Corporate Governance. Additionally, it carries out ESMA’s work with regard to major shareholding disclosures under the Transparency Directive, except in relation to how such disclosures are stored.

The Committee promotes greater efficiency in day-to-day work undertaken by supervisors; increases supervisory convergence and ensures the coherent application of rules across the membership.

In terms of developing technical advice and guidance, the Standing Committee has responsibility for elaborating Level 2 advice and Level 3 measures on the provisions of the Prospectus and Transparency Directives. In the area of Corporate Governance, the Corporate Finance Standing Committee will identify and consider a proposed ESMA response to areas which relate to securities (as opposed to company) laws in the European Union, which are of interest and relevance to ESMA and which are not addressed by other ESMA working groups. The Standing Committee also works to increase harmonised implementation of EU legislation. If needed or when requested, the Standing Committee also advises the European Commission on the need for possible changes to the appropriate Level 1 Directives.

The Committee also develops ‘Questions & Answers’ (Q&A) to continue to deliver greater supervisory convergence and transparency for market participants.

Terms of reference

Corporate Finance Standing Committee Terms of Reference

Members of the CFSC CWG

Victor Colino Blasco Head of Legal – Corporate & Investment Banking, Banco Santander S.A.
Jose Francisco Estevez Senior Attorney, Cremades & Calvo-Sotelo
William Ferrari Managing Director Corporate Finance, AFME
Laurent Guillot Chief Financial Officer, Saint Gobain
Robert Hingley Director of Investment Affairs, Association of British Insurers
Klaus Ilmonen Partner, Hannes Snellman Attorneys Limited
Wouter Kuijpers Senior Legal Counsel and Policy Advisor, Eumedion Corporate Governance Forum for Institutional Investors
Klaus Künzel Senior Counsel, Commerzbank AG
Andreas Meyer Managing Director and Associate General Counsel, Deutsche Bank AG
Chiara Mosca Assistant Professor Legal Studies, Universita Bocconi
Lauren Pau Managing Director & Managing Counsel, BNY Mellon
Alessandro Portolano Partner , Chiomenti Studio Legale
Annika Poutiainen Head of Surveillance, Nasdaq OMX
Alexander Russ Legal Counsel, Oesterreichische Kontrollbank AG
Gerard Scully Director of International Primary Markets , Irish Stock Exchange
Leif Vindevåg Economist and Senior Advisor to the Swedish Shareholders Association
Henri Wagner Partner, Allen & Overy