Nicosia, Cyprus. The Cyprus Securities and Exchange Commission said it hosted the European Securities and Markets Authority for board of supervisors and management board meetings in Nicosia on April 28 and April 29. The meetings took place within the official framework of the Cyprus Presidency of the Council of the European Union.
Role of the EU Council presidency
CySEC said that, under established protocols, the member state holding the presidency is responsible for organising the meetings of ESMA’s management bodies.
Participants and meeting structure
The board of supervisors, described as ESMA’s highest decision-making body, includes the heads of national competent authorities from across the European Union and the European Economic Area. Voting members were joined by observers from the European Commission, the European Systemic Risk Board, and other major European supervisory authorities.
The management board, made up of six elected members, focused on overseeing the management and coordination of the authority to ensure its mission is fulfilled.
Focus and statements
CySEC said the meetings brought together senior regulators to discuss supervisory convergence and initiatives related to investor protection.
ESMA Chair Verena Ross said bringing the board of supervisors and management board together in person is essential to maintaining strong cooperation across the European supervisory community. Ross said the discussions in Nicosia took place at a vital time for financial markets as the European Union seeks to address emerging risks and maintain high standards for investors. She thanked CySEC for hosting the meetings.
What do you think the meetings in Nicosia indicate about ESMA’s priorities for supervisory convergence and investor protection?