Verena Bettina Ross | |
|---|---|
 | |
| Born | March 4, 1968 |
| Nationality | German |
| Education | School of Oriental and African Studies, University of London |
| Occupation | Economist |
| Known for | Chair of the European Securities and Markets Authority (ESMA) |
Verena Bettina Ross (born 4 March 1968) is a German economist. She is President of the European Securities and Markets Authority (ESMA). [1]
Verena Ross studied economics at the School of Oriental and African Studies, University of London. [2]
She began her career at the Bank of England. [3] [4] She then served as chief of staff to Howard Davies, the first chairman of the Financial Services Authority (FSA), upon its establishment in 2000. [4] She became an executive director in June 2011, [4] and then president of the European Securities and Markets Authority in 2021. [2] [5] [6] [7] In 2011, she was the preferred candidate of the City of London. [4]
In 2023, she warned about the risks associated with collateral [2] [8] and highlighted ESMA's lack of resources to regulate cryptocurrencies and their impact on financial markets. [9]
The Depository Trust & Clearing Corporation (DTCC) is an American financial market infrastructure company that provides clearing, settlement and trade reporting services to financial market participants. It performs the exchange of securities on behalf of buyers and sellers and functions as a central securities depository by providing central custody of securities.
In finance, a contract for difference (CFD) is a financial agreement between two parties, commonly referred to as the "buyer" and the "seller." The contract stipulates that the buyer will pay the seller the difference between the current value of an asset and its value at the time the contract was initiated. If the asset's price increases from the opening to the closing of the contract, the seller compensates the buyer for the increase, which constitutes the buyer's profit. Conversely, if the asset's price decreases, the buyer compensates the seller, resulting in a profit for the seller.
Markets in Financial Instruments Directive 2014, is a directive of the European Union (EU). Together with Regulation No 600/2014 it provides a legal framework for securities markets, investment intermediaries, in addition to trading venues. The directive provides harmonised regulation for investment services of the member states of the European Economic Area — the EU member states plus Iceland, Norway and Liechtenstein. Its main objectives are to increase competition and investor protection, as well as level the playing field for market participants in investment services. It repeals Directive 2004/39/EC.
The Lamfalussy process is an approach to the development of financial service industry regulations used by the European Union. Originally developed in March 2001, the process is named after the chair of the EU advisory committee that created it, Alexandre Lamfalussy. It is composed of four "levels", each focusing on a specific stage of the implementation of legislation.
The Netherlands Authority for the Financial Markets is the financial services regulatory authority for the Netherlands. Its role is comparable to the role of the SEC in the United States.
The European Insurance and Occupational Pensions Authority (EIOPA) is a European Union financial regulatory agency. It was established in 2011 under Regulation (EU) No 1094/2010.
Retail foreign exchange trading is a small segment of the larger foreign exchange market where individuals speculate on the exchange rate between different currencies. This segment has developed with the advent of dedicated electronic trading platforms and the internet, which allows individuals to access the global currency markets. As of 2016, it was reported that retail foreign exchange trading represented 5.5% of the whole foreign exchange market.
The Committee of European Securities Regulators (CESR) was an independent committee of European Securities regulators, in place from 2001 to 2010. On 1 January 2011, it was replaced by the European Securities and Markets Authority (ESMA).
The Body of European Regulators for Electronic Communications (BEREC) is the body in which the regulators of the telecommunications markets in the European Union work together. Other participants include representatives of the European Commission, as well as telecommunication regulators from the member states of the EEA and of states that are in the process of joining the EU.
The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom. It operates independently of the UK Government and is financed by charging fees to members of the financial services industry. The FCA regulates financial firms providing services to consumers and maintains the integrity of the financial markets in the United Kingdom.
Alternative Investment Fund Managers Directive 2011 is a directive of the European Union on the financial regulation of hedge funds, private equity, real estate funds, and other "Alternative Investment Fund Managers" (AIFMs) in the European Union. The Directive requires all covered AIFMs to obtain authorisation, and make various disclosures as a condition of operation. It followed the global financial crisis. Before, the alternative investment industry had not been regulated at EU level.
The European System of Financial Supervision (ESFS) is the framework for financial supervision in the European Union that has been in operation since 2011. The system consists of the European Supervisory Authorities (ESAs), the European Systemic Risk Board, the Joint Committee of the European Supervisory Authorities, and the national supervisory authorities of EU member states. It was proposed by the European Commission in 2009 in response to the financial crisis of 2007–08.
The European Securities and Markets Authority (ESMA) is an agency of the European Union located in Paris.
The European Banking Authority (EBA) is a regulatory agency of the European Union headquartered in La Défense, Île-de-France. Its activities include conducting stress tests on European banks to increase transparency in the European financial system and identifying weaknesses in banks' capital structures.
The European Market Infrastructure Regulation (EMIR) is an EU regulation aimed at reducing systemic counterparty and operational risk and thereby preventing future financial system collapses. Its focus is regulation of over-the-counter (OTC) derivatives, central counterparties and trade repositories. It provides steer on reporting of derivative contracts, implementation of risk management standards and common rules for central counterparties and trade repositories.
European DataWarehouse (EDW) is a Securitisation Repository designated by both the European Securities and Markets Authority (ESMA) and the Financial Conduct Authority (FCA). European DataWarehouse GmbH is part of the ABS Loan Level Data initiative established by the European Central Bank that is engaged in providing data warehousing services and full disclosure for investors in asset-backed securities (ABS). It provides an open platform for users to access asset-backed security data.
The Capital Markets Union (CMU) is an economic policy initiative launched by the former president of the European Commission, Jean-Claude Juncker in the initial exposition of his policy agenda on 15 July 2014. The main target was to create a single market for capital in the whole territory of the EU by the end of 2019. The reasoning behind the idea was to address the issue that corporate finance relies on debt (i.e. bank loans) and the fact that capital markets in Europe were not sufficiently integrated so as to protect the EU and especially the Eurozone from future crisis. The Five Presidents Report of June 2015 proposed the CMU in order to complement the Banking union of the European Union and eventually finish the Economic and Monetary Union (EMU) project. The CMU is supposed to attract 2000 billion dollars more on the European capital markets, on the long-term.
Markets in Crypto-Assets is a regulation in European Union (EU) law. It is intended to help streamline the adoption of blockchain and distributed ledger technology (DLT) as part of virtual asset regulation in the EU, while protecting users and investors.
The general notion of cryptocurrencies in Europe denotes the processes of legislative regulation, distribution, circulation, and storage of cryptocurrencies in Europe. In April 2023, the EU Parliament passed the Markets in Crypto Act (MiCA) unified legal framework for crypto-assets within the European Union.
EuroCTPB.V. is a joint venture of 14 bourses, intending to tender for the provision of a consolidated tape (CT) for financial trading in the European Union (EU). The selection process, arranged by the European Securities and Markets Authority (ESMA), is scheduled to be finalised in 2025. This forms part of the European Commission's Capital Markets Union.