FMA Executive Director Klaus Kumpfmüller has once again been elected to the Management Board of the European Securities and Markets Authority (ESMA), thus securing his position on the Board for a further two and a half years.
The Management Board has operational responsibility for the Paris-based body, overseeing the budget, staffing and the programme of work that occupies its 200 employees. Alongside the ESMA Chair Steven Maijoor, there are six other members of the Management Board, who are elected from and by the Board of Supervisors. Kumpfmüller’s colleagues on the Management Board are Elisabeth Roegele (Germany), Cyril Roux (Ireland), Lourdes Centeno (Spain), Gérard Rameix (France) and Marek Szuszkiewicz (Poland).
ESMA was created as an independent EU authority in 2011, with the task of contributing to the stability of European financial system, in particular to ensuring transparency and efficiency of the securities markets and to protecting investors in Europe.
ESMA’s role is to set out the specific detail of European legislation in the area of the securities and capital market, defining uniform standards for market participants in all EU Member States and harmonising the supervisory practice of national securities supervisors. Moreover, ESMA directly supervises the activity of European financial service providers, specifically of the credit rating agencies and commercial registers.
“I view my re-election to this key European body as recognition of my work for ESMA to date, and as a mandate to carry on working for a stable and transparent capital market in Europe, therefore also protecting investor interests. This is a particularly exciting role, especially now, as the Capital Markets Union plan has put a project on the European agenda that will redefine the environment in this area. The experience we have gained in Austria as an integrated supervisory authority with an overview of all parts of the financial market can provide very valuable input to the development of a Capital Markets Union project that ensures both the funding of growth in Europe and the stability of the financial market,” said Klaus Kumpfmüller on the occasion of his re-election.
Journalists may address further enquiries to:
Klaus Grubelnik (FMA Media Spokesperson)
+43 (0)1 24959 6006
+43 (0)676 88 249 516