The European Parliament’s Committee on Economic and Monetary Affairs (ECON) approved on Thursday 22 April, by 50 votes to 1 with 5 abstentions, the appointment of French Natasha Cazenave as Executive Director of the European Securities and Markets Authority (ESMA).
Currently Deputy Secretary General in charge of Regulation and International Affairs at the French Financial Markets Authority (AMF), Ms Cazenave has 20 years of experience in financial services. She was shortlisted by ESMA (see EUROPE 12678/28) in mid-March.
During her hearing with MEPs, the candidate mentioned three main priorities for the future of ESMA: – contribute to the development of the Capital Markets Union; – adapt to the green and digital transformation; and – strengthen the authority’s credibility and operational effectiveness.
Asked by Jonás Fernández (S&D, Spain) about the supervision of crypto-assets, she spoke in favour of a clear and strong framework at EU level. And she felt that there was a need to find “the right balance” between a framework that can stimulate an environment for an attractive and competitive ecosystem and maintaining market integrity and financial stability.
The candidate did not escape a question on the Wirecard scandal (see EUROPE 12594/5). To MEP Stéphanie Yon-Courtin (Renew Europe, France), she replied that the forthcoming evaluation of the functioning of the European financial supervisory authorities (see EUROPE 12702/19) will be an opportunity to remedy any shortcomings.
In the meantime, she pledged, in a personal capacity, to do her utmost to defend “the strongest possible independence in the decisions that are taken”.
The ECON Commission is deeply committed to gender balance and was pleased that a woman was nominated for the post. Ms Cazenave said she was convinced that an organisation that promotes gender equity and diversity produces better results. She is committed to a “proactive policy” in this area.
She is also committed to upholding high standards of transparency and accountability to the European institutions within ESMA. (Original version in French by Marion Fontana)