The European Securities and Markets Authority, the
pan-European markets regulator which superseded the Committee
of European Securities Regulators on January 1, has held the
first meeting of its board of supervisors in Paris, and begun
to choose its senior management team.
The board is the main decision-taking body of Esma.
It consists of the heads of relevant national supervisors,
along with an elected chair.
Carlos Tavares, chair of Portugal's Comissão
do Mercado de Valores Mobiliários and former head of the
Committee of European Securities Regulators, was first elected
The board of supervisors then proposed Steven
Maijoor as its first chairman.
Maijoor, director of Dutch regulator the Authority
for the Financial Markets, must have his selection approved by
the European Parliament. They have a month to
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