Rinaldi’s burning questions to the new head of ESMA, financial markets control

1 October 20213 years ago babelfish

ESMA, that is the European body for the control and coordination of financial markets. has a new boss, Verena Ross, nominated for overwhelming German pressure against a much more qualified Italian candidate, but with the misfortune of not being a woman and German. Today she presented herself before the Econ commission and Antonio Maria Rinaldi who had some very interesting questions to the one who will become the head of financial market control

Here are his questions

Thank you President,

Thank you Dr. Ross,

If you are confirmed as president, I would like to ask you what ESMA's guidelines will be with respect to issues such as the one involving WIRECARD, to prevent similar unpleasant situations from happening again?

Furthermore, what is your opinion on the recent positions taken by Lagarde and Gensler who consider crypto not coins, but financial products and that technological platforms need to be controlled and how do you reconcile these statements with the decision of Germany, the main sponsor in your candidacy? to authorize Euronext to use crypto as collateral for derivatives or to authorize local insurance companies to invest in crypto before having defined their nature and their European regulation that ESMA is then called upon to regulate?

Secondly, I would like to deepen the question with respect to your appointment as President of ESMA.

Generally, no world supervisory authority likes to see the same person in a bank or listed company for 10 + 5 years holding important positions, precisely because of the principle of rotation and discontinuity.

How do you explain that in ESMA this elementary principle of common sense will not be respected with your appointment?

Finally, regarding BREXIT, taking into account that you have held various positions in that country, don't you think there could be a risk that ESMA's independence as a body in its choices and evaluations is not recognized?

Thanks.

Here is the answer …

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The article Rinaldi's burning questions to the new head of ESMA, financial markets control comes from ScenariEconomici.it .

This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/le-scottanti-domande-di-rinaldi-alla-nuova-responsabile-dellesma-controllo-mercati-finanziari/ on Thu, 30 Sep 2021 13:16:32 +0000.