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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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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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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Board of Supervisors

Members

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

Financial Supervision Commission (FSC) Petar Dzhelepov (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
Ireland

 Ireland

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
Michail FEKKAS (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 PARERA (Alternate) CV
Declaration of Interests
Declaration of Intention
France

 France

Autorité des Marchés Financiers (AMF) Marie-Anne BARBAT-LAYANI (Member) CV
Declaration of Interests
Declaration of Intention
Sébastien RASPILLER (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
Anamarija STANIČIĆ (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
Panikkos VAKKOU (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
Dalia JUŠKEVIČIENĖ (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
Andrea GENTILINI (Alternate) CV
Declaration of Interests
Declaration of Intention
Hungary

 Hungary

Magyar Nemzeti Bank (MNB) Gergő SZENICZEY (Member) CV
Declaration of Interests
Declaration of Intention
Gábor LAKI (Alternate) 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) Piotr KOZIŃSKI (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
Inês DRUMOND (Alternate) CV
Declaration of Interests
Declaration of Intention
Romania

 Romania

Autoritatea de Supraveghere Financiară (ASF) Alexandru PETRESCU (Member) CV
Declaration of Interests
Declaration of Intention
Maria Gabriela HORGA (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 BEŠTER (Alternate) CV
Declaration of Interests
Declaration of Intention
Slovakia

 Slovakia

Národná Banka Slovenska (NBS) Peter TKÁČ (Member) CV
Declaration of Interests
Declaration of Intention
Tomáš 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) Per NORDKVIST (Member) CV
Declaration of Interests
Declaration of Intention
Annika OTZ (Alternate) CV
Declaration of Interests
Declaration of Intention

 

Some Board of Supervisors Members also act as Management Board Members.

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Non-Voting Members 

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
Franz-Anton STEURER (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
  European Commission Ugo BASSI Declaration of Interests
  European Systemic Risk Board (ESRB) Francesco MAZZAFERRO Declaration of Interests
  European Banking Authority (EBA) François-Louis MICHAUD Declaration of Interests
  European Insurance and Occupational Pensions Authority (EIOPA) Fausto PARENTE     Declaration of Interests
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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) Katia Ntai (Voting Member)
Nikolia Psychogyiou (Alternate)
Declaration of Interests
Declaration of Interests
Spain

 Spain

Comisión Nacional del Mercado de Valores (CNMV) Roberto Bermejo (Voting Member)
Miguel Ángel Herrero Alvite (Alternate)
Declaration of Interests
Declaration of Interests
France

 France 

Banque de France (BdF) Claudine Hurman (Voting Member)
Gwenola Trotin (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
Croatia

 Croatia

Hrvatska agencija za nadzor financijskih usluga (HANFA) Jurica Jednačak (Voting Member)
Tajana Labudović (Alternate)
Declaration of Interests
Declaration of Interests
Italy

 Italy

Banca d'Italia (BdI) Pietro Stecconi (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) Pieter Zeijlemaker (Voting Member)
Bouke Buitenkamp (Alternate)
Declaration of Interests
Declaration of Interests
Autoriteit Financiële Markten (AFM) Suzanne Van Scheijen (Voting Member)
Diederik Dreijer (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)
Sylwia Anna Domańska (Alternate)
Declaration of Interests
Declaration of Interests
Portugal

 Portugal

Comissão do Mercado de Valores Mobiliários (CMVM) Manuela Peixe (Voting Member)
Elizabetth Sequeira (Alternate)
Declaration of Interests
Declaration of Interests
Sweden

 Sweden

Finansinspektionen (FI) Karin Jedkvist (Voting Member)
Emelie Jacobsson (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) Michał Konopczak (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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Chair, Members and Observers of the CCP Resolution Committee

Country Authority Member/Observer/Alternate Conflict of Interests Policy declarations
  ESMA Sophie Vuarlot-Dignac (Chair) Declaration of Interests
Austria

 Austria

Austrian Financial Market Authority (FMA / Finanzmarktaufsicht) Oliver Schütz (Member)
Thomas Pillichshammer (Alternate)
Declaration of Interests
Declaration of Interests
Belgium

 Belgium

National Bank of Belgium (NBB) Grégory Nguyen (Member)
Sara Pauwels (Alternate)
Declaration of Interests
Declaration of Interests
Bulgaria

 Bulgaria

Bulgarian FSC Petar Dzelepov (Member)
Yordanka Ushagelova (Alternate)
Maria Emanuilova (Alternate)
Declaration of Interests
Declaration of Interests
Declaration of Interests
Bulgarian National Bank (BNB / Българска народна банка) Emilia Dimitrova (Observer)
Vergil Lazarov (Alternate)
Declaration of Interests
Declaration of Interests
Croatia

 Croatia

Croatian Financial Services Supervisory Agency (HANFA) Ksenija Milošević (Member)
Anamarija Staničić (Alternate)
Declaration of Interests
Declaration of Interests
Croatian National Bank (Hrvatska Narodna Banka) Lidija Pranjić (Observer)
Domagoj Đerek (Alternate)
Declaration of Interests
Declaration of Interests
Cyprus

 Cyprus

Central Bank of Cyprus Panayiotis Vlamis (Member)
Georgios Andreou (Alternate)
Declaration of Interests
Declaration of Interests
Czech Republic

 Czechia

Czech National Bank (CNB / Ceska Narodni Banka) Radek Urban (Member) Declaration of Interests
Denmark

 Denmark

Danish Financial Supervisory Authority (Danish FSA / Finanstilsynet) Marinó Örn Ólafsson (Member)
Marcus Aleksander Wiinstedt Clausen (Alternate)
Declaration of Interests
Declaration of Interests
Estonia

 Estonia

Financial Supervision Authority (Finantsinspektsioon) Kerli Valdre (Member) Declaration of Interests
Finland

 Finland

Finnish Financial Stability Authority (Rahoitusvakausvirasto) Anni-Mari Karvinen (Member)
Harri Hämäläinen (Alternate)
Declaration of Interests
Declaration of Interests
Finnish Financial Supervisory Authority (Fin-FSA / Finanssivalvonta)  Jukka Laitinen (Observer)
Jenni Koskinen (Alternate)
Declaration of Interests
Declaration of Interests
France

 France

Prudential Supervisory and Resolution Authority (ACPR / Autorité de Contrôle Prudentiel et de Résolution) Mathieu Gex (Member)
Ben Konaré (Alternate)
Declaration of Interests
Declaration of Interests
Enda Palazzeschi (Observer)
Haroun Monjoin (Alternate)
Declaration of Interests
Declaration of Interests
Germany

 Germany

Federal Financial Supervisory Authority (BaFin / Bundesanstalt für Finanzdienstleistungsaufsicht) Stephanie Danker (Member)
Peter Schmitt (Alternate)
Declaration of Interests
Declaration of Interests
Deutsche Bundesbank Dirk Schrade (Observer)
Johannes Kaiser (Alternate)
Declaration of Interests
Declaration of Interests
Greece

 Greece

Hellenic Capital Market Commission (Επιτροπή Κεφαλαιαγοράς) Christina Verra (Member) Declaration of Interests
Hungary

 Hungary

Hungarian National Bank (Nemzeti Bank) Antal Stréda (Member)
Krisztina Mohácsi (Alternate)
Declaration of Interests
Declaration of Interests
Ireland

 Ireland

Central Bank of Ireland Hugo Slevin (Member) Declaration of Interests
Italy

 Italy

Bank of Italy (Banca d'Italia) Roberto Cercone (Member)
Loretta Frettoni (Alternate)
Declaration of Interests
Declaration of Interests
Latvia

 Latvia

Bank of Latvia (Latvijas Banka) Jeļena Ļebedeva (Member)
Liene Bergholde (Alternate)
Declaration of Interests
Declaration of Interests
Lieschtenstein

 Liechtenstein

Financial Market Authority Liechtenstein (Finanzmarktaufsicht) Thomas Stern (Member)
Julia Klingler (Alternate)
Declaration of Interests
Declaration of Interests
Lithuania

 Lithuania

Bank of Lithuania (Lietuvos Bankas) Ingrida Večerskytė (Member)
Gabriele Bieliunaite (Alternate)  
Declaration of Interests
Declaration of Interests
Luxembourg

 Luxembourg

Commission for the Supervision of Financial Sector (Commission de Surveillance du Secteur Financier) Joëlle Martiny (Member)
Markus Pokorni (Alternate)
Declaration of Interests
Declaration of Interests
Malta

 Malta

Malta Financial Services Authority (MFSA) Christian Buttigieg (Member)
Mellyora Ellul (Alternate)
Declaration of Interests
Declaration of Interests
Netherlands

  Netherlands

The Netherlends Bank (De Nederlandsche Bank) Arlette Westdorp (Member)
Josine Steggink (Alternate)
Declaration of Interests
Declaration of Interests
Poland

 Poland

Polish Bank Guarantee Fund (Bankowy Fundusz Gwarancyjny) Karolina Zawilska (Member)
Jakub Zaleski (Alternate)
Declaration of Interests
Declaration of Interests
Polish Financial Supervision Authority (Komisja Nadzoru Finansowego) Martyna Jędroszyk (Observer)
Jan Abramowski (Alternate)
Declaration of Interests
Declaration of Interests
Romania

 Romania

Financial Supervisory Authority (FSA Romania / Autoritatea de Supraveghere Financiară) Iulian Lupu (Member) Declaration of Interests
National Bank of Romania (Banca Naţională a României) Alexandru Dobrev (Observer)
Claudiu Negrea (Alternate)
Declaration of Interests
Declaration of Interests
Spain

 Spain

National Securities Market Commission (Comision Nacional de Mercado de Valores - CNMV) María José Gómez Yubero (Member)
Maribel Herrero (Alternate)
Declaration of Interests
Declaration of Interests
Bank of Spain (Banco de España) Ramiro Mombiela (Observer)
Virginia Serrano (Alternate)
Declaration of Interests
Declaration of Interests
Spanish Executive Resolution Authority (FROB) Jorge Rodellar (Observer)
María Hormaeche (Alternate)
Declaration of Interests
Declaration of Interests
Sweden

 Sweden

Swedish National Debt Office (Riksgälden) Anna Lidberg (Member)
Mattias Fransson (Alternate)
Declaration of Interests
Declaration of Interests
Financial Supervisory Authority (Finansinspektionen) Erik Willers (Observer)
Oliver Bakic (Alternate)
Declaration of Interests
Declaration of Interests
EU European Banking Authority Francesco Mauro (Observer) Declaration of Interests
European Central Bank (ECB) Martin Scheicher (Observer)
Juha Ojansivu (Alternate)
Declaration of Interests
Declaration of Interests
EU Commission Heinrich Wollny (Observer)
Florentijn Kloosterman (Alternate)
Declaration of Interests
Declaration of Interests
Single Resolution Board (SRB) Pedro Machado (Observer)
Nadège Jassaud (Alternate)
Declaration of Interests
Declaration of Interests
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