Directorate-General for Financial Stability, Financial Services and Capital Markets Union
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The Directorate-General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA) is a Directorate-General of the European Commission. It is one of the thirty three DG's that are created and named to reflect their functions.
The main role of the Directorate-General FISMA is initiating and implementing EU policy in the area of Banking and Finance, including the Capital Markets Union due to operate from 2019.[1]
After the financial crisis that began in 2008, the EU responded with a series of reforms to ensure financial market stability and to enhance the supervision of financial markets.
The operational role of DG FISMA is to ensure that EU legislation is fully implemented, to monitor the effectiveness of these reforms and to respond to any further financial risks that may become apparent.
The DG is arranged into five sections:
- Dir A - Resources and Communications
- Dir B - Investment and Company reporting
- Dir C - Financial Markets
- Dir D - Regulation and Prudential Supervision of Financial Markets
- Dir E - Financial System Surveillance and Crisis Management
Valdis Dombrovskis is the current EU Commissioner for this area; Oliver Guersent is the Director-General and he manages DG FISMA.
References
- ↑ European Commission, Overview of the Capital Markets Union, accessed 9 May 2018
