ESMA Chair Highlights Upcoming Focus on Supervisory Convergence

In his annual statement to the members of the Economic & Monetary Affairs Committee of the European Parliament, Steven Maijoor, Chair of the European Securities and Markets Authority (ESMA), highlighted ESMA’s achievements over the past twelve months and set out its goals for the upcoming year, giving hedge fund managers and other industry participants valuable insight into the ongoing focus of the European regulator.  Maijoor emphasized ESMA’s founding objectives and described an expected shift in attention for the upcoming year.  This article identifies the key observations and themes embodied by Maijoor’s statement.  For more on ESMA activities, see “ESMA Recommends Extension of the AIFMD Passport for Hedge Fund Managers and Funds in Certain Non-E.U. Jurisdictions,” Hedge Fund Law Report, Vol. 8, No. 31 (Aug. 6, 2015); and “ESMA Releases Final Report on MiFID II Technical Standards for Hedge Fund Management Firms,” Hedge Fund Law Report, Vol. 8, No. 28 (Jul. 16, 2015).

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