Dr George Theocharides, the Chairman of the Cyprus Securities and Exchange Commission (CySEC ), has taken additional responsibilities as the first Chair of the Risk Standing Committee (RSC), which is a part of the European Securities and Markets Authority (ESMA ). His tenure will last for two years, from 1 January 2023 until 31 December 2024.
ESMA's Risk Standing Committee Welcomes its First Chair, George Theocharides
The RSC is the successor of the Committee for Economic and Markets Analysis (CEMA), and Dr Theocharides has been serving as the Chair of that standing committee since March 2022.
"I am honoured to have been appointed to this role, and I reaffirm our commitment to contribute to the healthy development of the financial markets in Europe, encouraging innovation and ensuring investor protection," said Dr Theocharides.
The role of the RSC is to monitor developments in the financial markets, assess systemic risks and provide economic background analysis for the general tasks of ESMA. Further, the committee's responsibilities extend to risk analysis related to consumers, ESG, innovation and other emerging issues.
Dr Theocharides is not the only appointment at ESMA. The pan-European regulator also named the heads of other National Competent Authorities (NCAs) as standing committee Chairs: CONSOB's Commissioner, Carlo Comporti, is now the Chair of the Digital Finance Standing Committee; AMF's Marie-Anne Barbat-Layani is the Chair of Investor Protection Standing Committee; CNMV's Chair Rodrigo Buenaventura is heading Markets Standing Committee; BaFin's Chief Executive Director, Thorsten Pötzsch, is the Chair of Sustainability Standing Committee; and a few others besides.
Check Out the Opening Keynote by CySEC's Chairman, Dr George Theocharides, at iFX EXPO International 2022.
CySEC to ESMA
Dr Theocharides was appointed as CySEC's Chair in September 2021. Before that, he held the post of Vice-Chairman with the Cypriot regulator from July 2020 and also served there as a non-Executive Board member.
Before his position with CySEC, he fulfilled the role of Associate Professor of Finance at the Cyprus International Institute of Management (CIIM) and a Director of the MSc in its Financial Services Programme for just a decade. Moreover, he was an Assistant Professor of Finance at Sungkyunkwan University in South Korea. He became an International Faculty Fellow at the Sloan School of Management of the Massachusetts Institute of Technology (MIT) in the fall of 2006. Furthermore, he served as the non-Executive board member of several companies and organizations.
