argomento: News del mese - Diritto Internazionale e Comunitario

Articoli Correlati: ESMA - peer review - ESMAR

On 5^th June, 2020, the European Securities and Markets Authority (ESMA), the EU securities markets regulator, issued a new Peer Review Methodology that is destined to be added to and to improve the process that was already introduced by the revised ESMA Regulation (also known as ESMAR). Indeed, ESMA noted the need to provide peer reviews in order to implement supervisory convergence; furthermore, ESMAR intends to increase the independence of the peer review process and specifically its results, giving more weight to recommendations to NCAs and introducing mandatory and time-bound follow-up to peer reviews. ESMA also provided a new strategic orientation that was planned for the years 2020-2022; according to such orientation, peer reviews are destined to play a key role for a major convergence of all EU supervisory authorities. Eventually, the new regime provides for the creation of ad hoc Peer Review Committees chaired by ESMA professionals.