ESMA renews the mandate of the Chair and the two Independent Members of the CCP Supervisory Committee
ESMA, the EU's financial markets regulator, has reappointed Klaus Löber as Chair of the CCP Supervisory Committee. Nicoletta Giusto and Froukelien Wendt have also been reappointed as Independent Members. These renewals maintain consistency in ESMA's oversight of Central Counterparties. The renewed terms will begin on December 1st and last for five years. The CCP Supervisory Committee is crucial for overseeing both EU and third-country CCPs recognized under EMIR. It ensures uniform application of supervisory standards across the EU. The committee also promotes supervisory convergence among National Competent Authorities. Additionally, it monitors or supervises third-country CCPs as needed. The committee contributes to financial stability by managing risks related to central clearing.