Steven Maijoor spoke to an ICMA conference on:

  • increased transparency in financial markets for both the public and the regulators. He focused on aspects of ESMA's advice to the Commission on the AIFMD, which will include proposals to ensure availability of information to investors, and on the role of trade repositories in promoting transparency of OTC derivatives post-trade;
  • ESMA's role in contributing to financial stability. He looked at provisions in the AIFMD and the proposal for an EMIR which will give ESMA a role in accessing information to assess any threats to stability; and
  • international co-ordination of regulation and supervision. He discussed how all the new regulatory initiatives address third country issues. Again taking the AIFMD as an example, he said ESMA is to report to the Commission on co-operation agreements with third country regulators. He mentioned similar initiatives in EMIR and the Markets in Financial Instruments Directive (MiFID) Review.

(Source: Steven Maijoor Speech to ICMA)