The European Securities and Markets Authority (ESMA) is commencing a search for what will only be the regulator’s second chair since formation.
The current chair, Steven Maijoor, is to step down on 31 March 2021 having served the maximum number of two terms of five years allowed under the ESMA Regulation. The new chair will be appointed by the Council of the European Union (Council) following the European Parliament’s confirmation of the candidate.
Based in Paris, the new of the European regulator will act as the head and external representative of ESMA, develop ESMA’s long-term strategic orientation and ensures the achievement of its objectives, the authority says. They will be a voting member of, and chairs, the Board of Supervisors and Management Board, and as part of their accountability, also participates annually in a public hearing before the European Parliament and answers questions from its members.
The closing data for application is September 1, 2020 and the new chair is expected to succeed Maijoor on April 1, 2020.