CHAIR:  Anneli Tuominen, Director General of the Finnish Finanassivallvonta RAPPORTEUR: Sarah Raisin

ESMA’s Financial Innovation Standing Committee (FISC) was established to assist ESMA in fulfilling its tasks and responsibilities relating to investor protection. FISC’s main aim is to achieve a co-ordinated approach to the regulatory and supervisory treatment of new or innovative financial activities. It does this by facilitating the efficient co-ordination of policy-making work in the area of financial innovation within ESMA.

At national level, FISC considers the potential for ‘domestic’ issues and risks to apply more widely, whilst being cautious about the extent of work undertaken where issues seem capable of being best addressed by a national authority. FISC may make proposals for the co-ordination of national responses to any issues identified in the area of financial innovation.

FISC also contributes to the Joint Committee of European Supervisory Authorities’ work on financial activities, financial innovation and consumer related issues (through the JC Sub-committee on Consumer Protection).

Any correspondence regarding the work of this Standing Committee should be sent to the relevant ESMA staff member.