European Securities and Markets Authority

European Securities and Markets Authority

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The European Securities and Markets Authority (ESMA) is a European Union
European Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...

 financial regulatory institution and European Supervisory Authority located in Paris.

ESMA replaced the Committee of European Securities Regulators
Committee of European Securities Regulators
The Committee of European Securities Regulators was an independent committee of European Securities regulators established by European Commission on June 6 of 2001...

 (CESR) on 1 January 2011. It is one of the three new European Supervisory Authorities (ESAs) set up within the European System of Financial Supervisors
European System of Financial Supervisors
The European System of Financial Supervisors is an institutional architecture of the EU's framework of financial supervision created in response to the financial crisis...

. The other two are EBA
European Banking Authority
The European Banking Authority is a regulatory agency of the European Union headquartered in London, United Kingdom. Its activities include conducting stress tests on European banks to increase transparency in the European financial system by identifying weaknesses in banks' capital structures...

 and EIOPA.

Overview


ESMA works in the field of securities legislation and regulation to improve the functioning of financial market
Financial market
In economics, a financial market is a mechanism that allows people and entities to buy and sell financial securities , commodities , and other fungible items of value at low transaction costs and at prices that reflect supply and demand.Both general markets and...

s in Europe, strengthening investor protection and cooperation between national competent authorities.

See also

  • European System of Financial Supervisors
    European System of Financial Supervisors
    The European System of Financial Supervisors is an institutional architecture of the EU's framework of financial supervision created in response to the financial crisis...

  • European Banking Authority
    European Banking Authority
    The European Banking Authority is a regulatory agency of the European Union headquartered in London, United Kingdom. Its activities include conducting stress tests on European banks to increase transparency in the European financial system by identifying weaknesses in banks' capital structures...

  • European Systemic Risk Board
    European Systemic Risk Board
    The European Systemic Risk Board was established on 16 December 2010 in response to the ongoing financial crisis. It is tasked with the macro-prudential oversight of the financial system within the Union in order to contribute to the prevention or mitigation of systemic risks to financial...

  • European Insurance and Occupational Pensions Authority

External links