Speeches : Verena Ross' Keynote speech at the Joint ESM-FBF Conference, 5 June 2025

Keynote speech 5 June 2025 ESMA24-225943895-378 Capital Markets Supervision in the SIU Era Joint ESM-FBF Conference – Luxembourg Verena Ross Chair Good morning, It’s a pleasure to be with you today and I’d like to thank both the European Stability Mechanism and the Florence School of Banking and Finance for organising this conference and inviting me to speak. Forums like this – between policymakers, academics, regulators, and industry representatives – are essential for collective, critical reflection on important initiatives such as the Savings and Investments Union. And I appreciate the opportunity to lend my voice to that debate. At ESMA, we welcome the renewed attention being placed on Capital Markets Union, and now its successor, the Savings and Investments Union – or SIU. The strategic importance of wellfunctioning, integrated EU capital markets has become increasingly clear – economically, socially, and geopolitically. We recognised this in our 2024 ESMA Position Paper, which outlined 20 recommendations that could build more attractive and effective capital markets in the EU. One year on, we now have a Strategy from the European Commission, which builds on the notable reports from Mario Draghi and Enrico Letta and is pretty aligned with ESMA’s views and those of other stakeholders. The Savings and Investment Union The Savings and Investments Union is now an important lens through which to view EU capital markets. It...