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Standing Committees


Much of ESMA’s work is supported by Standing Committees (SC), working groups and task forces, which draw together senior experts from National Competent Authorities (NCAs). The different ESMA SCs are established on a permanent basis. Each Committee is normally chaired by senior representatives of NCAs and supported by ESMA staff who act as rapporteurs. All SCs also have consultative working groups made up of external stakeholder representatives.

ESMA’s SCs prepare the technical work on all areas of ESMA’s activities. However, the ultimate decision making body of ESMA is the Board of Supervisors, whereas the Management Board deals with the management of the Authority.

ESMA’s Standing Committees and their tasks

Name of Standing Committee



Secondary Markets Standing Committee


  • work on structure, transparency and efficiency of secondary markets for financial instruments, including trading platforms, OTC markets (such as regulated markets, MTFs, systematic internalisers or other platforms.
  • develop technical standards and guidelines, preparing advice to the EC relating to the MiFID.

Elisabeth Roegele,

Bafin, Germany

Investment Management Standing Committee


  • work on issues relating to collective investment management, covering both harmonised and non-harmonised investment funds.
  • develop technical standards, preparing advice to the EC, or developing guidelines and recommendations relating to UCITS and AIFMD.

Cyril Roux,

Central Bank of Ireland

Post-Trading Standing Committee


  • work relating to post-trading market infrastructures or post-trading processes or operations, such as the clearing and settlement of transactions in financial instruments.
  • develop technical standards, preparing advice to the EC or developing guidelines and recommendations relating to EMIR, CSDR, SFD, MiFIR and SFTR.

Guiseppe Vegas,


Credit Rating Agencies Technical Committee


  • prepare technical standards and common guidelines on CRA Regulation.
  • co-ordinate with other international organisations and third-country regulators that are performing activities in relation to CRAs. 

Verena Ross,


Corporate Reporting Standing Committee


  • work relating to the regulatory developments in the area of accounting and auditing, periodic financial reporting under the Transparency Directive.
  • develop technical advice, guidance and standards.
  • in the area of accounting, coordinating work on enforcement of compliance with IFRS.

Hannelore Lausch,

Bafin, Germany

Corporate Finance Standing Committee



  • work relating to the Prospectus Directive, corporate governance, and major shareholding disclosures under the Transparency Directive.
  • develop technical advice and guidance, standards on the provisions of the above  Directives.
  • in the area of corporate governance, respond to areas which relate to securities laws in the EU.

Gérard Rameix,

AMF, France

Market Integrity Standing Committee


  • work on issues relating to market surveillance, enforcement of securities laws, facilitation of co-operation of national authorities and exchange of information in market abuse investigations.
  • develop technical standards, preparing advice to the EC or developing guidelines and recommendations on issues relating to the integrity of markets on issues such as market abuse or short-selling.

Guiseppe Vegas,

Consob, Italy

Market Data Standing Committee


  • work on issues relating to reporting of transactions, positions, record-keeping of orders and instrument reference data. The objectives of this group are to enhance the quality of the market data reported to EU National Authorities and Trade Repositories and to foster supervisory convergence among the national authorities in its area of competence.
  • elaborating technical standards, guidelines and Q&As relating to the review and implementation of reporting requirements resulting from two important markets legislations: the European Market Infrastructure Regulation (EMIR) and the second iteration of the Markets in Financial Instruments Directive (MiFID II). The aim is to foster consistency, to the maximum extent, by avoiding reporting conflicts between the two regimes.

Hannelore Lausch,

BaFin, Germany

Investor Protection and Intermediaries Standing Committee



  • deal with regulatory issues related to the provision of investment services and activities by investment firms and credit institutions. Particular regard is made to investor protection, including the conduct of business rules, distribution of investment products, investment advice and suitability. 
  • develop and provide technical advice to the EC, and for preparing technical standards, guidelines and recommendations relating to the provisions of MiFID applicable to investment services and activities.

Merel van Vroonhoven,

AFM, Netherlands

Financial Innovation Standing Committee



  • achieve a coordinated approach to the regulatory and supervisory treatment of new or innovative financial activities.
  • identify risks to investor protection, and to financial stability, in the financial innovation area; and then to produce a risk mitigation strategy.

Jean-Paul Servais,

FSMA, Belgium

Supervisory Convergence Standing Committee


  • identifying topics for, and carrying out, peer reviews by ESMA
  • promoting a common framework within ESMA in relation to supervisory convergence
  • reporting to the ESMA Board on the implementation of the supervisory convergence work programme
  • dealing with cross-cutting issues of supervisory convergence that arise

Lourdes Centeno Huerta,

CNMV, Spain

Committee of Economic and Markets’ Analysis


  • financial markets monitoring and analysis
  • identification, monitoring, and assessment 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.

Misu Negritoiu,

ASF, Romania

Commodity Derivatives Task Force


  • monitoring and analysing regulatory and industry developments in the field of commodity financial markets
  • participating in the European legislative process in the commodity derivatives field and promoting supervisory convergence
  • managing the co-operation between financial regulators/ESMA and other regulatory and supervisory authorities such as the Agency for the Cooperation of Energy Regulators (“ACER”) and national energy regulators.

Edwin Schooling-Latter,


IT Governance and Management Group

  • work on IT governance, exchange of data & information between NCAs and ESMA

Nicolas Vasse,



Thijs Aaten - APG Asset Management, Managing Director Treasury & Trading
Beatriz Alonso-Majagranzas - BME, Equity Director
Nicola Beattie - Market Structure Partners UK, Founder and Chief Executive
Palle Broman - Lind Capital, Director,  Stategic Business Development
Enrico Bruni - Tradeweb, Head of Europe and Asia
Godfried De Vidts - ICAP, Director of European Affairs
Catalano Giuseppe - Assicurazioni Generali SpA , Company Secretary and Head of Corporate Affairs
Peter Gomber - Faculty of Economics and Business Administration (Frankfurt), Chair of e-Finance
Tim Grange - ICE Futures Europe/ICE Clear Europe Limited, Director of Regulatory Policy
Raffaele Jerusalmi - Borsa Italiana Spa, CEO
Henrik Käll - Nordea Markets, Head of Sales and Research  / Head of FICC Sweden Nordea Markets
Daniel Kapffer - DekaBank, COO Asset Management and Capital Markets
Poul Kjær - Danish Shareholders Association, Policy Advisor / Associate Professor at the Copenhagen University /Chairman of the Board of XBRL Denmark
Remco Lenterman - Citadel Securities, Managing Director
Mario Muth - Deutsche Bank AG,  London, Global Head of Electronic Rates Sales
Virginie Saade - KCG Europe Limited, Head of European Regulatory Affairs and Strategy
Marcus Schueler
Yazid Sharaiha - Norges Bank Investment Management, Global Head of Investment Strategies
Geoffroy Vander Linden - Trax, Head of Transparency Services
Patrick Verelst - Vlaamse Federatie van Beleggers (VFB), CEO
Cees Vermaas - CME Europe, CEO


Rafik Fischer  -  Group Head of Global Investor Services, KBL European Private Bankers
Darina Barrett  -  Partner, Market Leader Financial Services, KPMG Ireland
Roberta D'Apice  -  Director of the Legal Offie, Assogestioni
Jean Pierre Casey  -  Partner, Azure Wealth LLP
Robert Slange  -  Chief Compliance Officer, Robeco
Paola Musile Tanzi  -  Full professor of Banking and Finance, Perugia University
Jarkko Syyrilä  -  Head of Compliance, Nordea Asset Management
Eric Derobert  -  Group Head of Communications & Public Affairs, CACEIS
Alain Dubois  -  Managing Director - Index Business, MSCI
Klaus Struwe  -  Political Consultant to Danish Shareholders Association
Uwe Stoschek  -  Senior Partner in Financial Services, Asset Management Practice – PwC Germany
Susanne Van Dootingh  -  Managing Director, Head of European Regulatory Strategy, State Street Global Advisors
Ines Cieslok  -  Senior European Regulatory Counsel, State Street Bank GmbH
Rhodri Preece  -   Head, Capital Markets Policy EMEA, CFA Institute
Nicole Montoya   - Senior Portfolio Manager, Fixed Income Global Credit, AXA IM
Adina Gurau Audibert    -  Investment Management Techniques and Risk Management Adviser, AFG
Dan Awrey  -  Associate Professor of Law and Finance, University of Oxford
Cirus Andreu Cabot  -  Assistant General Manager and Head of Investment Management, Investment Products and Capital Markets Research - Banco Sabadell


Jesus, Benito - CEO, BME, 
Wesley Betsill -  COO, CME
Diana Chan -  CEO, EuroCCP
Helen De Geer -  Global Solution Architect Post-Trade, NASDAQ OMX
Natasha De Terán -  Head of Public Affairs, SWIFT
Ulrich Karl -  Director CCP/Fin.Institutions Group,  Global Banking, HSBC
Roland Kipper -  Divisional Head of Transaction Services, Commerzbank
Eric Litvack -  Global Head of Regulatory Strategy, SocGen
Stephan Lomas -  Head of Market Policy Global Transaction Banking, DB
Noel Miles -  Head of Trade Mgt and Valuation Services, Fidelity
Mathias Papenfuss -  CEO, Clearstream Banking AG
Fabrizio Plateroti -  Director Regulation Division, Borsa Italiana
Martin Pluves - COO, LCH Clearnet
Valerie Sainsaulieu -  Head of Group Treasury Internal Control, Lafarge
Paul Symons - Head of Public Affairs, Euroclear
Adriana Tanasoiu - CEO, CSD Romania
Marc Tibi - Market infrastructures projects &Marketplace Relationship Mgr, BNPP
Jaime Viladecans Bombardó - Head of Markets Op Control, Caixabank



Bertrand Allard - Co-chairman of the Accounting and Financial Analysis Commission; SFAF (Societe Francaise des Analystes Financiers), France
Hans Buysse   -  Partner SynCap - Clairfield International/Deputy President, Belgian Association of Financial Analysts:Member, EFFAS Executive Management Committee and EFRAG Board
Antonio Garcia Carreno   -  Managing Director, Head of Private Banking, Catalunya Bank S.A., Spain
Janzon Claes   -  Partner, PwC, Sweden; Executive Member, the Swedish Financial Reporting Board
Roger Arnold Collinge   -  Head of corporate governance group, UK Shareholders’ Association
Klaus Peter Feld  -   Executive Director, the Institut der Wirtschaftsprüfer (IDW), Germany
Ana Isabel Fernandez  -   Full professor of Finance, the Colegio Universitario de Estudios Financieros (CUNEF), Spain
Robert Hodgkinson -    Executive Director (Technical), the Institute of Chartered Accountants in England and Wales (ICAEW), UK
Thierry James  -   Group Technical Accounting Controller, Centrica Plc, UK
Maria Kortene   -  Vice President, Group Accounting and Reporting, UPM-Kymmene Corporation, Finland
Liz Murrall   -  Director, Stewardship and Reporting, The Investment Association, UK
Vincent Papa   -  Director, Financial Reporting Policy for Capital Markets, CFA Institute
Anna Sikström  -   Director Investor Relations, Volvo Group, Sweden
Laura López Sotomayor  -   Head of Financial Compliance, Ferrovial, Spain
Andrew Spooner  -   Partner, Deloitte, UK; Lead IFRS financial instruments partner globally, Deloitte;  the UK IFRS Centre of Excellence and Deloitte UK’s National Accounting and Auditing group
Mark Vaessen   -  Partner at KPMG; Global IFRS network leader, KPMG International; Chairman of FEE Corporate Reporting Policy Group; Member of EFRAG Board
Leo van der Tas   -  Senior Technical Partner at Ernst & Young Accountants (EY), the Netherlands; Global IFRS Leader of EY Global; Part-time Full Professor, the University of Tilburg, the Netherlands
Peter Walton  -   Emeritus professor, ESSEC Business School, France, and The Open University, UK; European Accounting Association Financial Reporting Research Group


Amanda Thomas  -  Partner, Head of ICM Know-How & Training, Allen & Overy (London)
Andreas Meyer -  Managing Director and Associate General Counsel, Deutsche Bank
Andrew Crain  -  Global Head, Regulatory Engagement & Development, Blackrock
Carmine Di Noia  -  Deputy Director General, Association of Italian Corporations (Assonime)
Consuelo Barbé Capdevila   -  Head of Securities Markets and Corporate Governance, Telefonica
David Tomic - Senior Equity Analyst at VEB 
François Basdevant  -  Vice-President Mergers & Acquisitions – Legal department, Vivendi
Gerard Scully  -  Director of International Primary Markets, Irish Stock Exchange
Giuseppe Zaghini   -  Senior Policy Expert, Italian Federation of Co-operative Credit Banks
Jennifer Payne  -  Professor of Corporate Finance Law, University of Oxford
Juan M. Prieto  -  Director of International Affairs, Emisores Españoles
Klaus Ilmonen  -  Partner, Head of Capital Markets, Hannes Snellman
Kristjan Verbič - President of the Pan Slovenian Shareholders Association
Krzysztof Grabowski  -  Corporate Governance Advisor, Conference of Financial Companies in Poland
Marc Lefevre  -  Head of Listing, Euronext
Markus Kaum  -  Deputy General Counsel, Munich Re
Matteo Gargantini  -  Senior Research Fellow, Max Planck Institute Luxembourg
Renata Bandov  -  Director - Head of Section Listing Services, Deutsche Borse
Ruairi Ewing  -  Senior Director – Primary Markets, International Capital Market Association, International Capital Markets Association



David Broadway - Investment Operations Lead - The Investment Association
Mike Rinker - Functional Legal Head of Trading - Union Asset Management Holding AG
Guillaume de Severac - Global Head of Compliance - Société Générale
Sallianne Taylor - Global Manager Market Structure & Strategic Relationships - Bloomberg London
Andrew Harvey - Managing Director-Europe, Global FX Division - GFMA
Patrick Nagtegaal - Senior Business Application Consultant - APG Asset Management
Daniel Sörmark - Chief Technology Officer - Nasdaq Clearing
Uwe Meyer - Manager Standardisation and Executive Director ANNA Secretariat - VM Daten
Karin Verlinden - Capital Market Initiatives - BNP Paribas CIB
Paul Janssens - Programme Director - SWIFT
Philip Maymann - Market Data Manager - Nordea-Markets
Jason Overall - Principal Strategy Technology Analyst - Optiver
Pernilla Mellkvist - Senior Product Manager - Information Services-EURONEXT
David Nowell - Head of Industry Relations & Regulatory Compliance - London Stock Exchange Group
Hubert Kretschmer - Head of Data Management Functionality - Deutsche Börse AG
Paul Sedgwick - Director European Regulatory Outreach and Reporting - DTCC Derivatives Repository Ltd
Matthew Vincent - Head of QA and Industry Liaison - GM EMEA Reegulatory Services-CREDIT SUISSE | IB Regulatory Services
Ad van Dijk - European Head Regulatory Transaction Reporting - ABN AMRO Clearing Bank N.V.
Sara Cresswell - EMEA Securities Division Operational Risk - Goldman Sachs
María Antonia - Molleda Herrero - Head of Global Corporate Banking Compliance - Santander


Alain Moreau  - Global Head of Investment Products and Insurances, Deutsche Bank
Aleksander Smidowicz - Legal advisor – Coordinator on brokerage matters, Bank Zachodni WBK S.A.
Dorothea Mohn   - Head of Union Finance, Federation of German Consumer Protection Organisation
Etienne Valence   - Global Head of Market Integrity, BNPP GROUP COMPLIANCE, BNP Paribas
Eva Micheler   -  Associate Professor (Reader), London School of Economics and Political Science, Ao Universitaetprofessor,Wirtschaftsuniversitaet Wien
Henning Bergmann   - Head of Capital Markets, German Savings Banks Association
Jean-François Biernaux  - Legal Adviser, Consumer Association Test-Achats
Josep Soler-Alberti  - Chairman, European Financial Planning Association, EFPA, Chief Executive Officer, Institut d’Estudis Financers, IEF
Josina Kamerling  - Head of Regulatory Outreach EMEA, CFA Institute
Juan Manuel Viver  -  Policy Officer, Better Finance
Markus Lange  - Partner, Head of Financial Services Legal, KPMG
Martin Parkes  - Director Public Policy, BlackRock
Michael Haliassos  - Professor and Chair of Macroeconomics and Finance, Goethe University Frankfurt
Miloslav Klášterecký  - Product Manager - Retail Investment Products, Česká spořitelna, a.s. (Erste group)
Niels Lemmers  -  Legal and Public Affairs Director, Dutch Investors’ Association (VEB)
Ricardo Queralt  - Professor, Colegio Universitario de Estudios Financieros (CUNEF)
Sheila Nicoll  - Head of Public Policy, Schroders
Vincenzo Troiano  - Full Professor, University of Perugia - Partner, Chiomenti Studio Legale


Danielle Ballardie   -  Head of Cash Markets and Deputy Head of Markets and Global Sales, Euronext
Guido Bichisao   -  Director Institutional Strategy, European Investment Bank
Adrian Blundell-Wignall  -   Special Advisor to the OECD Secretary General on Financial Markets, Deputy Director of the Directorate of Financial and Enterprise Affairs, OECD
Manuel Brieske   -  Head of Product Development EMEA, State Street Global Advisors
Robert Brown  -   Managing Director & Chair, Global Investment Committee, Towers Watson
Luis Correia da Silva   -  Managing Director, Oxera
Laurent Deborde  -   Head of investment management, Caisse des Depots
Frederic Ducoulombier   -  Director, EDHEC Risk Institute
Rui Fernandes  -   Head of Equity and Fund Linked Structuring and Product Development, EMEA, JPMorgan
Sean Flannery   -  Director of Sustainable Investment Strategies, Meister Consulting Group
Alberto Gallo   -  Head of European Macro Credit Research, Royal Bank of Scotland
Mick McAteer  -   Director, The Financial Inclusion Centre
Manooj Mistry  -   Head of ETPs and Institutional Passive, EMEA, Deutsche Asset & Wealth Management
Philippe Morel  -   Senior Partner & Managing Director, BCG
Faith Reynolds  -   "Member of the Financial Services Consumer Panel, Financial Conduct Authority"
Peter Tufano  -   Peter Moores Dean, Saïd Business School, University of Oxford
Nicolas Veron  -   Fellow, Peterson Institute for International Economics, Bruegel
William de Vijlder  -   Group Chief Economist, BNP Paribas
Christian Vollmuth  - Managing Director, German Derivatives Association
Dan Waters  -   Managing Director, ICI Global
Chris Woods   -  Head of Policy and Governance, FTSE
Filippo Zorzoli  -  Managing Director, Head of Rates sales and EMEA FICC and Equities structuring, Bank Of America Merrill Lynch

CEMA Group of Economic Advisers

Santiago Carbó Valverde   -  Professor of Economics and Finance, Bangor Business School, UK
Paolo Colla  -   Associate Professor of Finance, Bocconi University
Sea S. Collins   -  Senior Director, Industry and Financial Analysis, Investment Company Institute (ICI), USA
Gregorio De Felice   -  Chief Economist and Head of Research, Intesa Sanpaolo, IT
Bernard Delbecque  -   Director of Economics and Research, European Fund and Asset Management Association (EFAMA), BE
Alexandra Hachmeister   -  Chief Regulatory Officer, Deutsche Boerse, DE
Frank Hatheway  -   Chief Economist and Vice-President, Nasdaq OMX Group Inc.
Jan-Pieter Krahnen  -   Professor of Finance, Goethe Universitaet Frankfurt
Antonio Mele  -   Professor of Finance and Senior Chair, Swiss Finance Institute, University of Lugano, CH
Carlo Domenico Mottura  -   Professor of Financial Mathematics, Financial Valuation and Risk Management Models, University Roma Tre, IT
Lars L. Nordén  -   Professor of Finance, Stockholm Business School, Stockholm University, SE
Rhodri G. Preece   -  Head, Capital Markets Policy EMEA, CFA Institute, UK
Thierry Roncalli  -   Associate Professor of Economics, University of Evry and Head of Research and Development, Lyxor Asset Management, FR
Jesús Sánchez-Quiñones   -  Managing Director and Member of the Board, Renta 4 Banco, ES
David Thesmar   -  Professor of Finance, HEC, FR
Diego Valiante   -  Head of Capital Markets Research, CEPS, BE

Commodity Derivatives Task Force

Haroun Boucheta - Director-GBIS Regulatory Strategy, Société Générale
Pietro Laghezza - Head of Energy Trading, UniCredit Corporate & Investment Banking
Gideon McLean - Executive Director-Commodity Operations, Goldman Sachs International-Goldman Sachs International
Olivier Raevel - Head of Commodities Markets, Euronext NV
Jan Richter - Head of Regulatory Affairs & Communications, Powernext
Sara Colmenar Rueda - Business Development Manager, BME Group Derivatives
Katy Hyams - Senior Regulatory Counsel, London Metal Exchange
Katarzyna Szwarc - Regulatory Analyst, ICE Futures Europe
Magnus Haglind - Deputy Head of Nasdaq Commodities, Nasdaq
Jaroslaw Ziebiec - Director-Regulated Market Development Office, TGE (Polish Power Exchange)
Karl-Peter Horstmann - Head of Markets Regulation, RWE Supply & Trading GmbH
Paolo Fabiano - Head of Global Trading Conformity, Enel Trade
Odile Roy De Puyfontaine - Head of Compliance EMEA & Asia, Vitol
Raymond Ward - Senior Advisor Compliance, Cargill
Nikos Triantafyllidis - Group Financial & Energy Markets Compliance Manager, OMV Aktiengesellschaft
Bernard Valluis - Deputy President ANMF/President European Flour Millers, European Flour Millers Associations (EFM)
Paul Bromley - Finance Director, Amalgamated Metal Trading Limited
Olav Hendrik Jozef Houben - Managing Director Commodities, APG-Asset Management
Robert Shimell - Senior portfolio manager responsible for BlackRocks suite of commodity derivative products, BlackRock
Myriam Vander Stichele - Senior Researcher, SOMO (Centre for Research on Multinational Corporations)