The European Securities and Markets Authority has confirmed the appointment of former French regulator Natasha Cazenave to oversee the day-to-day running of the European Union’s top markets watchdog.
Cazenave will leave her post as deputy secretary general and head of the policy and international affairs directorate at France’s Autorité des Marchés Financiers to take up her new position as executive director at Esma on 1 June.
The appointment, which was confirmed by Esma’s board of supervisors on 20 May, will be a five-year term, renewable once.
In her new post, Cazenave will be a key player in the oversight of the EU’s vast financial services sector as it adapts several of its landmark post-crisis financial services rules to the new post-Brexit world.
Esma said in its 2021 annual work programme that Brexit will change the EU’s financial markets landscape “significantly”.
“The impact of this on the provision of financial services in the EU will continue to present a number of challenges, and ESMA will continue to address these issues,” it said.
Another of the watchdog’s big tasks for the year ahead will be responding to Covid.
“This has caused several of the year’s deliverables to be delayed to 2021 and, at the time of writing, the actions required for the ongoing response to the pandemic in 2021 are still to be developed,” Esma’s 2021 annual work programme said. In 2020, Esma tightened restrictions on short-sellers amid a market panic at the onset of the Covid-19 crisis.
Cazenave replaces Verena Ross, who will leave Esma after more than two decades of experience in financial regulation.
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