Ethics and Conflicts of interest

Independence and professional conduct are crucial for ensuring high standards of excellence for the work of ESMA. The Authority endeavours to operate in a clear and open manner and is mindful of its duty of transparency towards EU citizens.

ESMA strives to ensure that its staff and governing bodies do not have any interests that could affect their impartiality and has put in place specific policies to deal with any potential conflicts of interests. These support the prompt identification and the consequent management of any actual or potential conflict of interests:

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Who is concerned?

The Conflict of Interest Policy for ESMA’s governing bodies concern both the Members of the Board of Supervisors and of the Management Board including their officially nominated Alternates. The policy also applies to the non-voting Members such as the heads of the national Competent Authorities of Member States of the European Economic Area (EEA) and the representatives of the European Commission, the European Systemic Risk Board (ESRB), the European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA) and Observers participating in the Board of Supervisors. Moreover, the Members of the CCP Supervisory Committee, as well as their officially nominated Alternates and Observers are within scope of the Conflict of Interest Policy.

All those subject to this policy are required to submit a “Declaration of Interests” which is assessed by ESMA and made publicly available on its website.

The Conflict of interests and ethics policy for staff applies to ESMA staff during their time at ESMA, as well as after.

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How is a conflict of interests defined?

A conflict of interests is defined as a conflict between the public duty of ESMA and any interests of an individual, interests of his/her close family members or of his/her employer, which could improperly influence the performance of his/her official duties and responsibilities, including the duty to act in the sole interest of the Union as a whole, or could compromise his/her impartiality, objectivity or independence.

ESMA’s Conflict of Interest Policy identifies different kinds of interests that should be reported to and assessed by ESMA. These range from economic interests, memberships, activities with employers (including the national competent authority), consultancy activities, intellectual property rights, interests of close family members and any other activities or situations which might create an actual or potential conflict of interests. Wherever a conflict of interests is identified appropriate measures must be taken to either remove it or mitigate it.

Before any meeting or after the launch of a written procedure, Members, their Alternates, non-voting participants as well as Observers participating in the Board of Supervisors, the Management Board and CCP Supervisory Committee meeting and any representative from a relevant national authority have to declare the existence of any interest which might be considered prejudicial to their independence in relation to any item of the agenda.

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Professional conduct: the “declaration of intention”

Moreover, all those involved in the activities of ESMA are bound to professional secrecy and to confidentiality requirements pursuant to Article 70 of Regulation (EU) No 1095/2010.

Members of ESMA’s governing bodies have to confirm their compliance with these requirements in a “Declaration of Intention”. In the case of voting members of the Board of Supervisors, Management Board and their officially nominated alternates, this “Declaration of Intention” is also made public.

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ESMA Senior Management

  Position Member Documents
ESMA Chair Verena ROSS

 

Declaration of Interests

Confidentiality Undertaking

ESMA Executive Director Natasha CAZENAVE

Declaration of Interests

Confidentiality Undertaking

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Chair and Independent Members of the CCP Supervisory Committee

  Position Member Documents
ESMA Chair – Voting member Klaus LÖBER Declaration of Interests
Confidentiality Undertaking
ESMA Independent Member – Voting member Nicoletta GIUSTO Declaration of Interests
Confidentiality Undertaking
ESMA Independent Member – Voting member Froukelien WENDT

Declaration of Interests
Confidentiality Undertaking

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ESMA Governing Bodies

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National Competent Authorities

Country Authority Member/Alternate Documents
Belgium Belgium Financial Services and Markets Authority (FSMA) Jean-Paul SERVAIS (Member)

CV

Declaration of Interests

Declaration of Intention

Annemie ROMBOUTS (Alternate) CV

 

Declaration of Interests

 

Declaration of Intention

Bulgaria Bulgaria Комисията за финансов надзор (FSC) Mariya FILIPOVA (Member)

 

CV

 

Declaration of Interests

 

Declaration of Intention

Mariyan IVANOV (Alternate)

 

 

 

CV

 

Declaration of Interests

 

Declaration of Intention

Czech Republic Czechia Česká národní banka (CNB) Vojtěch BELLING (Member) CV

 

Declaration of Interests

 

Declaration of Intention

Karel JURÁŠ (Alternate) CV

 

Declaration of Interests

 

Declaration of Intention

Denmark Denmark Finanstilsynet Karen Dortea ABELSKOV (Member) CV

 

Declaration of Interests

 

Declaration of Intention

Henrik BRARUP DAMGAARD (Alternate)

 

CV

 

Declaration of Interests

 

Declaration of intention

Germany Germany Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) Thorsten POETZSCH (Member) CV

 

Declaration of Interests

 

Declaration of Intention

Jens FÜRHOFF (Alternate)

 

CV

 

Declaration of Interests

 

Declaration of Intention

Estonia Estonia Finantsinspektsioon (FSA) Andre NÕMM (Member) CV

 

Declaration of Interests

 

Declaration of Intention

Kilvar KESSLER (Alternate) CV

 

Declaration of Interests

 

Declaration of Intention

IrelandIreland Central Bank of Ireland Derville ROWLAND (Member) CV

 

Declaration of Interests

 

Declaration of Intention

Patricia DUNNE (Alternate) CV

 

Declaration of Interests

 

Declaration of Intention

Greece Greece Ελληνική Επιτροπή Κεφαλαιαγοράς (HCMC) Vasiliki LAZARAKOU (Member) CV

 

Declaration of Interests

 

Declaration of Intention

Nikolaos KONTAROUDIS (Alternate) CV

 

Declaration of Interests

 

Declaration of Intention

Spain Spain Comisión Nacional del Mercado de Valores (CNMV) Rodrigo BUENAVENTURA (Member) CV

 

Declaration of Interests

 

Declaration of Intention

Montserrat MARTÍNEZ (Alternate) CV

 

Declaration of Interests

 

Declaration of Intention

France France Autorité des Marchés Financiers (AMF) Robert OPHÈLE (Member) CV

 

Declaration of Interests

 

Declaration of Intention

Benoît DE JUVIGNY (Alternate) CV

 

Declaration of Interests

 

Declaration of Intention

Croatia Croatia Hrvatska agencija za nadzor financijskih usluga (HANFA) Ante ŽIGMAN (Member) CV

 

Declaration of Interests

 

Declaration of Intention

Jurica JEDNACAK (Alternate) CV

 

Declaration of Interests

 

Declaration of Intention

Italy Italy Commissione Nazionale per le Società e la Borsa (CONSOB) Carlo COMPORTI (Member)

CV

 

Declaration of Interests

 

Declaration of Intention

Paolo SAVONA (Alternate)

CV

Declaration of Interests

 

Declaration of intention

Cyprus Cyprus Επιτροπή Κεφαλαιαγοράς Κύπρου (CySEC) George THEOCHARIDES (Member) CV

 

Declaration of Interests

 

Declaration of Intention

George KARATZIAS (Alternate) CV

 

Declaration of Interests

 

Declaration of Intention

Latvia Latvia Latvijas Banka Santa PURGAILE (Member)

 

 

 

CV

 

Declaration of Interests

 

Declaration of Intention

Kristaps SOMS (Alternate) CV

 

Declaration of Interests

 

Declaration of Intention

Lithuania Lithuania Lietuvos Bankas Vaidas CIBAS (Member) CV

 

Declaration of Interests

 

Declaration of Intention

Audrius ŠILGALIS (Alternate)
 
CV

 

Declaration of Interests

 

Declaration of Intention

Luxembourg Luxembourg Commission de Surveillance du Secteur Financier (CSSF) Claude MARX (Member) CV

 

Declaration of Interests

 

Declaration of Intention

Françoise KAUTHEN (Alternate) CV

 

Declaration of Interests

 

Declaration of Intention

Hungary Hungary Magyar Nemzeti Bank (MNB) Gergő SZENICZEY (Member) CV

 

Declaration of Interests

 

Declaration of Intention

Malta Malta Malta Financial Services Authority (MFSA) Christopher BUTTIGIEG (Member) CV

 

Declaration of Interests

 

Declaration of Intention

Lorraine VELLA (Alternate) CV

 

Declaration of Interests

 

Declaration of Intention

Netherlands Netherlands Autoriteit Financiële Markten (AFM) Jos HEUVELMAN (Member) CV

 

Declaration of Interests

 

Declaration of Intention

Hanzo VAN BEUSEKOM (Alternate) CV

 

Declaration of Interests

 

Declaration of Intention

Austria Austria Finanzmarktaufsicht (FMA) Eduard MÜLLER (Member) CV

 

Declaration of Interests

 

Declaration of Intention

Birgit PUCK (Alternate

 

 

 

CV

 

Declaration of Interests

 

Declaration of Intention

Poland Poland Komisja Nadzoru Finansowego (KNF) Rafał MIKUSIŃSKI (Member) CV

 

Declaration of Interests

 

Declaration of Intention

Agata GAWIN (Alternate) CV

 

Declaration of Interests

 

Declaration of Intention

Portugal Portugal Comissão do Mercado de Valores Mobiliários (CMVM) Luís LAGINHA DE SOUSA (Member) CV

 

Declaration of Interests

 

Declaration of Intention

José Miguel ALMEIDA (Alternate)

CV

Declaration of Interests

Declaration of Intention

Romania Romania Autoritatea de Supraveghere Financiară (ASF) Gabriel GRĂDINESCU (Member) CV

 

Declaration of Interests

 

Declaration of Intention

Ovidiu PETRU (Alternate) CV

 

Declaration of Interests

 

Declaration of Intention

Slovenia Slovenia Agencija za trg vrednostnih papirjev (ATVP) Anka ČADEŽ (Member) CV

 

Declaration of Interests

 

Declaration of Intention

Sabina BESTER (Alternate) CV

 

Declaration of Interests

 

Declaration of Intention

Slovakia Slovakia Národná Banka Slovenska (NBS) Peter TKÁČ (Member) CV

 

Declaration of Interests

 

Declaration of Intention

Tomas AMBRA (Alternate) CV

 

Declaration of Interests

 

Declaration of Intention

Finland Finland Finanssivalvonta (FSA) Armi TAIPALE (Member) CV

 

Declaration of Interests

 

Declaration of Intention

Maria REKOLA (Alternate) CV

 

Declaration of Interests

 

Declaration of Intention

Sweden Sweden Finansinspektionen (FI) Susanna GRUFMAN (Member) CV

 

Declaration of Interests

 

Declaration of Intention

Marie JESPERSON (Alternate)

CV

Declaration of Interests

Declaration of Intention

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European Economic Area Members (Non-Voting)

Country Authority Member/Alternate Documents
Iceland Iceland Central Bank of Iceland Björk SIGURGÍSLADÓTTIR (Member) Declaration of Interests
Páll FRIÐRIKSSON (Alternate) Declaration of Interests
Lieschtenstein Liechtenstein Finanzmarktaufsicht (FMA) Reto DEGEN (Member) Declaration of Interests
To be appointed (Alternate) Declaration of Interests
Norway Norway Finanstilsynet Anne Merethe BELLAMY (Member) Declaration of Interests
Geir HOLEN (Alternate) Declaration of Interests
  EFTA Surveillance Authority Stefan BARRIGA (Member) Declaration of Interests
Jonina SIGRUN LARUSDOTTIR (Alternate) Declaration of Interests
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EU Institutions (Non-Voting)

Authority Member Documents
European Commission Ugo BASSI Declaration of Interests
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European System of Financial Supervision

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Members of the CCP supervisory committee

Country Authority Member/Alternate Conflict of Interests Policy declarations
Germany Germany  Bundesanstalt für Finanzdienstleistungsaufsicht​ (Bafin) ​Thomas Beck (Voting Member)
Johannes Reinschmidt (Alternate
Declaration of Interests
Declaration of Interests
Greece Greece Ελληνική Επιτροπή Κεφαλαιαγοράς (HCMC) Nikolaos Kontaroudis (Voting Member)
Katia Ntai (Alternate)
Declaration of Interests
Declaration of Interests
Spain Spain Comisión Nacional del Mercado de Valores (CNMV) Javier Ruiz Del Pozo (Voting Member)
Miguel Ángel Herrero Alvite (Alternate)
Declaration of Interests
Declaration of Interests
France France  Banque de France (BdF) Claudine Hurman (Voting Member)
Marie-Aline Vives (Alternate)
Declaration of Interests
Declaration of Interests
Autorité des Marchés Financiers​ (AMF) Delphine Vandenbulcke (Voting Member)
Patrice Aguesse (Alternate)
Declaration of Interests
Declaration of Interests
Autorité de contrôle prudentiel et de résolution
(ACPR)
Frédéric Hervo (Voting Member)
Enda Palazzeschi (Alternate)
Declaration of Interests
Declaration of Interests
Italy Italy Banca d'Italia (BdI) Loretta Frettoni (Voting Member)
Barbara Lupi (Alternate)
Declaration of Interests 
Declaration of Interests
Commissione Nazionale per le Società e la Borsa (CONSOB) Salvatore Giovanni Lo Giudice (Voting Member)
Diego Monorchio (Alternate)  
Declaration of Interests
Declaration of Interests
Hungary Hungary Magyar Nemzeti Bank ​(MNB) Daniel Rácz (Voting Member)
Miklós Luspay (Alternate)
Declaration of Interests
Declaration of Interests
Netherlands Netherlands De Nederlandsche Bank​ (DNB) Marc de Vor (Voting Member)
Bouke Buitenkamp (Alternate)
Declaration of Interests
Declaration of Interests
Autoriteit Financiële Markten (AFM) Tanya Pieters-Gorissen (Voting Member)
Suzanne Van Scheijen (Alternate)
Declaration of Interests  
Declaration of Interests
Austria Austria Finanzmarktaufsicht (FMA) Roman Bitter (Voting Member)
Ulrike Rhomberg (Alternate)
Declaration of Interests
Declaration of Interests
Poland Poland Komisja Nadzoru Finansowego (KNF) Dorota Ubysz (Voting Member)
Agnieszka Chrząścik-Ciesielska (Alternate)
Declaration of Interests
Declaration of Interests
Portugal Portugal Comissão do Mercado de Valores Mobiliários (CMVM) Elizabetth Sequeira (Voting Member)
Manuela Peixe (Alternate)
Declaration of Interests
Declaration of Interests
Sweden Sweden Finansinspektionen (FI) Karin Jedkvist (Voting Member)
Johan Nilsson (Alternate)
Declaration of Interests
Declaration of Interests
Croatia Croatia Hrvatska agencija za nadzor financijskih usluga (HANFA) Jurica Jednačak (Voting Member)
Ksenija Petričević (Alternate)
Declaration of Interests
Declaration of Interests

 

Central Banks of Issue  
EU European Central Bank (ECB) Fiona van Echelpoel (Non-voting Member) **
Denmark Denmark Danmarks Nationalbank (DN) Jens Skovsted Halsnæs (Non-voting Member) Declaration of Interests
Poland Poland Narodowy Bank Polski (NBP) Adam Jankowski (Non-voting Member) Declaration of Interests
Sweden Sweden Sveriges Riksbank (SR) Johanna Stenkula von Rosen (Non-voting Member) Declaration of Interests

** ECB staff is subject to an equivalent ECB conflict of interest policy.

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Information on ESMA former Senior Management

Steven Maijoor was appointed as ESMA Chair for two 5-year terms, with his second term running until 31 March 2021. As of 1 April 2021 he serves as a member of the Governing Board of De Nederlandsche Bank (DNB).

Verena Ross served as the Executive Director of ESMA for two 5-year terms, until 31 May 2021. As of 1 November 2021 she has been appointed as ESMA Chair, for a 5-year mandate.

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