European Commissioner for Financial Stability, Financial Services and the Capital Markets Union
European Commissioner for Financial Stability, Financial Services and the Capital Markets Union | |
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since 8 September 2020 | |
Appointer | President of the European Commission |
Term length | Five years |
Salary | €19,909.89 per month[2][3] |
Website | European Commission |
The European Commissioner for Financial Stability, Financial Services and the Capital Markets Union is the member of the European Commission responsible for banking and finance. The current officeholder is Mairead McGuinness.[1]
Responsibilities
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The post is responsible for the ensuring that financial markets are properly regulated and supervised so that they are stable, competitive and transparent, at the service of jobs and growth. This includes the full implementation of the Banking Union. They are also responsible for establishing a Capital Markets Union by 2019 for all 28 Member States of the EU,[4][5] and maximising the benefits of capital markets and non-bank financial institutions for the rest of the economy, and in particular SMEs.
In addition, the post is responsible for proposing measures to make financial services work better for consumers and retail investors, and promoting global consistency in regulation and the implementation of agreed standards and principles in cooperation with international partners.[6]
List of commissioners
[edit]Name | Country | Period | Commission | Portfolio actual name | |
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Christopher Tugendhat | ![]() |
1977–1981 | Jenkins Commission | Budget and Financial Control, Financial Institutions |
1981–1985 | Thorn Commission | Budget and Financial Control, Financial Institutions and Taxation (vice-president) | |||
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Henning Christophersen | ![]() |
1985–1989 | Delors Commission I | Budget, financial control, personnel and administration |
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Abel Matutes | ![]() |
1986–1989 | Credit, investments, financial instruments and small & medium-sized enterprises | |
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Sir Leon Brittan | ![]() |
1989–1992 | Delors Commission II | Competition and financial institutions (vice-president) |
Peter Schmidhuber | ![]() |
1993–1994 | Delors Commission III | Budget, financial control and the cohesion fund | |
Anita Gradin | ![]() |
1995–1999 | Santer Commission | Immigration, Justice & Home Affairs, Financial Control, Anti-fraud and Relations with the European Ombudsman. | |
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Charlie McCreevy | ![]() |
2004-2010 | Barroso Commission I | Internal Market and Services |
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Michel Barnier | ![]() |
2010-2014 | Barroso Commission II | Internal Market and Services |
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Lord Hill of Oareford | ![]() |
2014–2016 | Juncker Commission | Financial Stability, Financial Services and Capital Markets Union |
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Valdis Dombrovskis | ![]() |
2016–2019 | Juncker Commission | Euro and Social Dialogue and Financial Stability, Financial Services and Capital Markets Union (vice-president) |
2019–2020 | Von der Leyen Commission | Financial Markets | |||
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Mairead McGuinness | ![]() |
2020–present | Von der Leyen Commission | Financial Stability, Financial Services and Capital Markets Union |
See also
[edit]- Economy of the European Union
- Capital Markets Union
- Eurozone & Euro
- European Central Bank
- European Union Budget
- OLAF
- European Court of Auditors
- Directorate-General for Economic and Financial Affairs
References
[edit]- ^ a b "Mairead McGuinness named as Ireland's European commissioner, given 'important financial portfolio'". The Irish Times. 8 September 2020. Retrieved 8 September 2020.
- ^ REGULATION No 422/67/EEC, 5/67/EURATOM OF THE COUNCIL, EurLex
- ^ Base salary of grade 16, third step is €17,697.68: European Commission: Officials' salaries – accessed 19 March 2010
- ^ European Commission, Capital markets union action plan, accessed 9 May 2018
- ^ Vértesy, László (2019). "The legal and regulatory aspects of the free movement of capital - towards the Capital Markets Union". Journal of Legal Theory HU (4): 110–128. ISSN 1588-080X.
- ^ European Commission: Commissioner Jonathan Hill, European Commission November 2014