ESMA selects CCP Supervisory Committee members 02 September 2020Brussels Reporter: Maddie Saghir
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The European Securities and Markets Authority (ESMA) has selected the candidates for the central counterparty (CCP) Supervisory Committee, which is set up under the amended European Market Infrastructure Regulation (EMIR 2.2).
Following an open selection process, the board of supervisors has submitted its selected candidates to the European Parliament.
Klaus Löber, currently head of the oversight division at the European Central Bank
(ECB), has been selected for chair of the CCP Supervisory Committee.
Nicoletta Giusto, currently senior director and head of international relations at Commissione Nazionale per le Società e la Borsa and Froukelien Wendt, currently senior financial sector expert at the International Monetary Fund, have been selected for positions of independent members of the CCP Supervisory Committee.
The European Parliament is expected to make a decision within the one-month period set out in EMIR 2.2.
According to ESMA, the appointment by the board of supervisors of the selected candidates, as chair and independent members, will finalise the set up of the CCP Supervisory Committee.
The committee comprises the competent authorities of member states where a CCP is established and, where applicable, the central banks of issue of EU currencies.
Meanwhile, the finalisation of the process in conjunction with the finalisation of the delegated acts by the commission will conclude the preparatory steps for the full implementation of the EMIR 2.2 regime.
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