European Commissioner for Financial Stability, Financial Services and the Capital Markets Union

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]

European Commissioner for Financial Stability, Financial Services and the Capital Markets Union
Incumbent
Mairead McGuinness[1]
since 8 September 2020
AppointerUrsula von der Leyen
Term lengthFive years
Salary€19,909.89 per month[2][3]
WebsiteEuropean Commission

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]

See also

References
  1. "Mairead McGuinness named as Ireland's European commissioner, given 'important financial portfolio'". The Irish Times. 8 September 2020. Retrieved 8 September 2020.
  2. REGULATION No 422/67/EEC, 5/67/EURATOM OF THE COUNCIL, EurLex
  3. Base salary of grade 16, third step is €17,697.68: European Commission: Officials' salaries – accessed 19 March 2010
  4. European Commission, Capital markets union action plan, accessed 9 May 2018
  5. Vértesy, László (2019). "The legal and regulatory aspects of the free movement of capital - towards the Capital Markets Union". Journal of Legal Theory HU. ISSN 1588-080X.
  6. European Commission: Commissioner Jonathan Hill, European Commission November 2014
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