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 (DG) of the European Commission. It is one of the thirty three DG's that are created and named to reflect their functions.

The main responsibilities of the Directorate-General FISMA is initiating and implementing EU policy in the area of Banking and Finance, including the Capital Markets Union[1] as well as Corporate reporting and auditing [2] due to operate from 2019.

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.

According to its latest organigram the DG FISMA is organized in five directorates [3]:

  • Dir A - General affairs
  • Dir B - Horizontal policies
  • Dir C - Financial markets
  • Dir D - Bank, insurance and financial crime
  • Dir E - Financial systems and crisis management

Valdis Dombrovskis is the current EU Commissioner for this area; John Berrigan is the Director-General and he manages DG FISMA.

In the current legislature period (2019-2024) DG FISMA focuses on the achievement of one of the six top European Commission's political priorities, namely "An economy that works for people".[4]

References[edit]

  1. ^ European Commission, Overview of the Capital Markets Union, accessed 9 May 2018
  2. ^ European Commission, [1], accessed 12 Aug 2020
  3. ^ European Commission, DG FISMA Organisation Chart, 16 July 2020, English, accessed 12 Aug 2020
  4. ^ European Commission, European Commission, DG FISMA Mission Statement, accessed 12 Aug 2020

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External links[edit]