Ronald Gerritse, chairman of the Board of the Netherlands Authority for the Financial Markets (AFM), has been appointed by the Board of Supervisors of the European Securities and Markets Authority (ESMA) as chairman of the Committee for Economic and Market Analysis (CEMA), one of the ESMA Standing Committees.
CEMA is the committee that performs economic and market analysis from a financial stability perspective. In addition, CEMA performs impact assessments of policy proposals. This year, CEMA will perform activities pertaining to High Frequency Trading and retailisation, among other things.
CEMA's work is of growing importance for ESMA. One of the lessons of the credit crisis is that market conduct and the securities markets can have a major impact on the stability of the financial system. Through CEMA, the AFM intends to identify system risks more explicitly and put these on the agenda within ESMA and other institutes. In particular at the European Systemic Risk Board.
Ronald Gerritse will start his activities as chairman on 1 January 2013.
The AFM is committed to promoting fair and transparent financial markets.
As an independent market conduct authority, we contribute to a sustainable financial system and prosperity in the Netherlands.