“Oh Today, the Board of Directors approved the decision to nominate Verina Ross for the position of Chairman of the Emirates Authority for Standardization and Metrology, “and informs in a statement the structure in which member states are represented.
Verena Ross takes office on November 1, for a term of five years, renewable once.
The ESMA regulation states that the Board of Supervisors of that power is responsible for drawing up a restricted list of eligible candidates for the office of President, and accordingly, “the Board shall make a decision to appoint the President, after confirmation by the European Parliament.”
That was the official step taken today.
In mid-September, permanent representatives of EU member states reached “agreement on the appointment of Verina Ross as chairperson of the Emirates Authority for Standardization and Metrology,” he told Lusa Agency at the time, a source from the Slovenian presidency of the council, adding that “there was no discussion and the vote was secret”.
It was up to the Council to present a motion to Parliament at the time, which was approved the following week by the Parliamentary Committee on Economic and Monetary Affairs and days later by MEPs in the plenary of the European Assembly.
The presidency of the Emirates Authority for Standardization and Metrology has been in a political impasse for months, since April, due to the stalemate in discussions between the two countries.
Verena Ross was, until last June and for 10 years, the CEO of ESMA, having held senior positions in the UK’s Financial Services Authority and as a member of the Executive Committee of this British entity.
The German began her career at the Bank of England, where she worked as an economist and later as a banking supervisor.
She has a degree in Chinese Studies and Economics and a Masters in Economics.
In addition to the specialist in financial regulation, another of the names mentioned was the Italian Carmine di Noia, and even the name of the former Portuguese Finance Minister Maria Luis Albuquerque, who, however, was not included in the list that arrived at the Council.
Created in 2011 and headquartered in Paris, ESMA is one of the three authorities that make up the European System of Financial Supervision and its mission is to strengthen and protect investors and to enhance the stability and smooth functioning of financial markets.
It is an independent European authority, which sets a single set of rules for the financial markets of the European Union to ensure their consistent application across the Union.
It is also responsible for coordinating the actions of the securities supervisory authorities and for taking emergency measures when a crisis situation occurs.
Read also: PE agrees to lead JSC Verena Ross
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