Deprecated: OTGS_Installer_Repository::set_subscription(): Implicitly marking parameter $subscription as nullable is deprecated, the explicit nullable type must be used instead in /app/wp-content/plugins/sitepress-multilingual-cms/vendor/otgs/installer/includes/repository/class-otgs-installer-repository.php on line 85

Deprecated: OTGS_Installer_Package_Product_Finder::get_product_in_repository_by_subscription(): Implicitly marking parameter $subscription as nullable is deprecated, the explicit nullable type must be used instead in /app/wp-content/plugins/sitepress-multilingual-cms/vendor/otgs/installer/includes/class-otgs-installer-package-product-finder.php on line 11

Deprecated: WPML_TM_Job_Entity::set_deadline(): Implicitly marking parameter $deadline as nullable is deprecated, the explicit nullable type must be used instead in /app/wp-content/plugins/sitepress-multilingual-cms/classes/jobs/class-wpml-tm-job-entity.php on line 247

Deprecated: WPML_TP_API::__construct(): Implicitly marking parameter $logger as nullable is deprecated, the explicit nullable type must be used instead in /app/wp-content/plugins/sitepress-multilingual-cms/classes/translation-proxy/api/class-wpml-tp-api.php on line 13

Deprecated: WPML\ST\MO\Generate\Process\ProcessFactory::__construct(): Implicitly marking parameter $multiSiteCondition as nullable is deprecated, the explicit nullable type must be used instead in /app/wp-content/plugins/wpml-string-translation/classes/MO/Generate/Process/ProcessFactory.php on line 21

Warning: Cannot modify header information - headers already sent by (output started at /app/wp-content/plugins/sitepress-multilingual-cms/vendor/otgs/installer/includes/class-otgs-installer-autoloader.php:18) in /app/wp-includes/rest-api/class-wp-rest-server.php on line 1902

Warning: Cannot modify header information - headers already sent by (output started at /app/wp-content/plugins/sitepress-multilingual-cms/vendor/otgs/installer/includes/class-otgs-installer-autoloader.php:18) in /app/wp-includes/rest-api/class-wp-rest-server.php on line 1902

Warning: Cannot modify header information - headers already sent by (output started at /app/wp-content/plugins/sitepress-multilingual-cms/vendor/otgs/installer/includes/class-otgs-installer-autoloader.php:18) in /app/wp-includes/rest-api/class-wp-rest-server.php on line 1902

Warning: Cannot modify header information - headers already sent by (output started at /app/wp-content/plugins/sitepress-multilingual-cms/vendor/otgs/installer/includes/class-otgs-installer-autoloader.php:18) in /app/wp-includes/rest-api/class-wp-rest-server.php on line 1902

Warning: Cannot modify header information - headers already sent by (output started at /app/wp-content/plugins/sitepress-multilingual-cms/vendor/otgs/installer/includes/class-otgs-installer-autoloader.php:18) in /app/wp-includes/rest-api/class-wp-rest-server.php on line 1902

Warning: Cannot modify header information - headers already sent by (output started at /app/wp-content/plugins/sitepress-multilingual-cms/vendor/otgs/installer/includes/class-otgs-installer-autoloader.php:18) in /app/wp-includes/rest-api/class-wp-rest-server.php on line 1902

Deprecated: WPML_Translations::__construct(): Implicitly marking parameter $wpml_cache as nullable is deprecated, the explicit nullable type must be used instead in /app/wp-content/plugins/sitepress-multilingual-cms/classes/translations/class-wpml-translations.php on line 26

Deprecated: WPML_Translation_Element::__construct(): Implicitly marking parameter $wpml_cache as nullable is deprecated, the explicit nullable type must be used instead in /app/wp-content/plugins/sitepress-multilingual-cms/classes/translations/class-wpml-translation-element.php on line 27

Warning: Cannot modify header information - headers already sent by (output started at /app/wp-content/plugins/sitepress-multilingual-cms/vendor/otgs/installer/includes/class-otgs-installer-autoloader.php:18) in /app/wp-includes/rest-api/class-wp-rest-server.php on line 1902

Warning: Cannot modify header information - headers already sent by (output started at /app/wp-content/plugins/sitepress-multilingual-cms/vendor/otgs/installer/includes/class-otgs-installer-autoloader.php:18) in /app/wp-includes/rest-api/class-wp-rest-server.php on line 1902
{"id":382016,"date":"2025-12-09T09:53:26","date_gmt":"2025-12-09T08:53:26","guid":{"rendered":"https:\/\/ga-p.com\/?post_type=noticia&p=382016"},"modified":"2025-12-09T11:38:53","modified_gmt":"2025-12-09T10:38:53","slug":"ana-martinez-pina-analyses-the-european-proposal-on-financial-supervision-fundspeople","status":"publish","type":"noticia","link":"https:\/\/ga-pstg.servidortemporal.net\/en\/news\/ana-martinez-pina-analyses-the-european-proposal-on-financial-supervision-fundspeople\/","title":{"rendered":"Ana Mart\u00ednez-Pina analyses the European proposal on financial supervision | FundsPeople"},"content":{"rendered":"
\n
\n
\n
\n
\n\n

The European Commission\u2019s initiative to strengthen ESMA\u2019s role reopens the debate on the balance between European and national supervision.<\/h4>\n\n\n\n

The European Commission has presented a new proposal to advance the integration of financial markets within the Capital Markets Union, reigniting the debate over the advisability of expanding ESMA\u2019s powers and centralising part of the supervision. While there is consensus that Europe needs greater coherence and supervisory convergence, the industry warns that full centralisation could prove ineffective.<\/p>\n\n\n\n

For Ana Mart\u00ednez-Pina, Partner in Financial Regulation and Insurance at G\u00f3mez-Acebo & Pombo, ESMA already plays a key role in supervising cross-border entities: \u201cESMA already performs a significant function within the European framework, with regulatory and direct supervisory powers over entities whose activity is cross-border by nature, such as credit rating agencies or central counterparties.\u201d<\/p>\n\n\n\n

However, Mart\u00ednez-Pina believes that extending direct supervision to all European players would not be appropriate. As she explains, \u201cIt might make sense for clearly pan-European actors, such as certain crypto-asset service providers, but not for general centralisation.\u201d She also emphasises the importance of national authorities: \u201cNational Competent Authorities (NCAs) provide technical knowledge and a close understanding of the local market, product and investor profiles, as well as the domestic legal and tax environment. This domestic channel is valuable for detecting risks.\u201d<\/p>\n\n\n\n

From this perspective, the industry argues that before expanding ESMA\u2019s powers, existing tools such as guidelines, Q&As, and convergence groups should be strengthened, as they help gradually reduce divergences. Experts agree that European direct supervision should focus on genuinely cross-border actors, while national authorities remain essential to ensure investor protection and local market understanding.<\/p>\n\n\n\n

The general consensus in the sector is that supervisory convergence should be built through cooperation, data sharing, and the elimination of duplications, rather than through total centralisation.<\/p>\n\n\n\n

\n\n Read more<\/span>\n
\"icon\"<\/div><\/a>\n <\/div>\n\n<\/div>\n<\/div>\n\n\n
\n
\n\n\n
\n\n
\n
\n\n \n
\n
Lawyer mentioned<\/div>\n
\n

\n <\/span>\n Ana Mart\u00ednez-Pina<\/a>\n – Partner<\/span>\n <\/p>\n <\/div>\n <\/div>\n \n

\n
Tipology<\/div>\n

\n <\/span>\n Press mention<\/span>\n <\/p>\n <\/div>\n \n

\n
Areas and sectors<\/div>\n

\n <\/span>\n Financial Regulatory<\/a>\n <\/p>\n

\n <\/span>\n Insurance and Pension Funds<\/a>\n <\/p>\n <\/div>\n <\/div>\n<\/div>\n\n<\/div>\n<\/div>\n\n<\/div>\n\n <\/div>\n\n<\/div>\n\n\n

\n
\n
\n
\n
\n\n
\n\n\n
\n See previous \"icon\"\n <\/a>\n See next \"icon\"\n <\/a>\n <\/div>\n <\/div>\n<\/div>\n<\/div>\n\n<\/div>\n\n <\/div>\n\n<\/div>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The European Commission\u2019s initiative to strengthen ESMA\u2019s role reopens the debate on the balance between European and national supervision.<\/p>\n","protected":false},"featured_media":0,"template":"","categoria":[273],"class_list":["post-382016","noticia","type-noticia","status-publish","hentry","categoria-press-mention"],"acf":[],"yoast_head":"\nAna Mart\u00ednez-Pina analyses the European proposal on financial supervision<\/title>\n<meta name=\"description\" content=\"The European Commission\u2019s initiative to strengthen ESMA\u2019s role reopens the debate on the balance between European and national supervision.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ana Mart\u00ednez-Pina analyses the European proposal on financial supervision\" \/>\n<meta property=\"og:description\" content=\"The European Commission\u2019s initiative to strengthen ESMA\u2019s role reopens the debate on the balance between European and national supervision.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ga-pstg.servidortemporal.net\/en\/news\/ana-martinez-pina-analyses-the-european-proposal-on-financial-supervision-fundspeople\/\" \/>\n<meta property=\"og:site_name\" content=\"Despacho de abogados G\u00f3mez-Acebo y Pombo\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-09T10:38:53+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ga-pstg.servidortemporal.net\/en\/news\/ana-martinez-pina-analyses-the-european-proposal-on-financial-supervision-fundspeople\/\",\"url\":\"https:\/\/ga-pstg.servidortemporal.net\/en\/news\/ana-martinez-pina-analyses-the-european-proposal-on-financial-supervision-fundspeople\/\",\"name\":\"Ana Mart\u00ednez-Pina analyses the European proposal on financial supervision\",\"isPartOf\":{\"@id\":\"https:\/\/ga-pstg.servidortemporal.net\/en\/#website\"},\"datePublished\":\"2025-12-09T08:53:26+00:00\",\"dateModified\":\"2025-12-09T10:38:53+00:00\",\"description\":\"The European Commission\u2019s initiative to strengthen ESMA\u2019s role reopens the debate on the balance between European and national supervision.\",\"breadcrumb\":{\"@id\":\"https:\/\/ga-pstg.servidortemporal.net\/en\/news\/ana-martinez-pina-analyses-the-european-proposal-on-financial-supervision-fundspeople\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ga-pstg.servidortemporal.net\/en\/news\/ana-martinez-pina-analyses-the-european-proposal-on-financial-supervision-fundspeople\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ga-pstg.servidortemporal.net\/en\/news\/ana-martinez-pina-analyses-the-european-proposal-on-financial-supervision-fundspeople\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Portada\",\"item\":\"https:\/\/ga-pstg.servidortemporal.net\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ana Mart\u00ednez-Pina analyses the European proposal on financial supervision | FundsPeople\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ga-pstg.servidortemporal.net\/en\/#website\",\"url\":\"https:\/\/ga-pstg.servidortemporal.net\/en\/\",\"name\":\"Despacho de abogados G\u00f3mez-Acebo & Pombo\",\"description\":\"G\u00f3mez-Acebo y Pombo es una firma de abogados independiente, con experiencia internacional, especializada en todas las \u00e1reas del derecho de los negocio.\",\"publisher\":{\"@id\":\"https:\/\/ga-pstg.servidortemporal.net\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ga-pstg.servidortemporal.net\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ga-pstg.servidortemporal.net\/en\/#organization\",\"name\":\"Despacho de abogados G\u00f3mez-Acebo & Pombo\",\"url\":\"https:\/\/ga-pstg.servidortemporal.net\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ga-pstg.servidortemporal.net\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ga-pstg.servidortemporal.net\/wp-content\/uploads\/2024\/09\/Logo-1-1.svg\",\"contentUrl\":\"https:\/\/ga-pstg.servidortemporal.net\/wp-content\/uploads\/2024\/09\/Logo-1-1.svg\",\"caption\":\"Despacho de abogados G\u00f3mez-Acebo & Pombo\"},\"image\":{\"@id\":\"https:\/\/ga-pstg.servidortemporal.net\/en\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Ana Mart\u00ednez-Pina analyses the European proposal on financial supervision","description":"The European Commission\u2019s initiative to strengthen ESMA\u2019s role reopens the debate on the balance between European and national supervision.","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"Ana Mart\u00ednez-Pina analyses the European proposal on financial supervision","og_description":"The European Commission\u2019s initiative to strengthen ESMA\u2019s role reopens the debate on the balance between European and national supervision.","og_url":"https:\/\/ga-pstg.servidortemporal.net\/en\/news\/ana-martinez-pina-analyses-the-european-proposal-on-financial-supervision-fundspeople\/","og_site_name":"Despacho de abogados G\u00f3mez-Acebo y Pombo","article_modified_time":"2025-12-09T10:38:53+00:00","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/ga-pstg.servidortemporal.net\/en\/news\/ana-martinez-pina-analyses-the-european-proposal-on-financial-supervision-fundspeople\/","url":"https:\/\/ga-pstg.servidortemporal.net\/en\/news\/ana-martinez-pina-analyses-the-european-proposal-on-financial-supervision-fundspeople\/","name":"Ana Mart\u00ednez-Pina analyses the European proposal on financial supervision","isPartOf":{"@id":"https:\/\/ga-pstg.servidortemporal.net\/en\/#website"},"datePublished":"2025-12-09T08:53:26+00:00","dateModified":"2025-12-09T10:38:53+00:00","description":"The European Commission\u2019s initiative to strengthen ESMA\u2019s role reopens the debate on the balance between European and national supervision.","breadcrumb":{"@id":"https:\/\/ga-pstg.servidortemporal.net\/en\/news\/ana-martinez-pina-analyses-the-european-proposal-on-financial-supervision-fundspeople\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ga-pstg.servidortemporal.net\/en\/news\/ana-martinez-pina-analyses-the-european-proposal-on-financial-supervision-fundspeople\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ga-pstg.servidortemporal.net\/en\/news\/ana-martinez-pina-analyses-the-european-proposal-on-financial-supervision-fundspeople\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Portada","item":"https:\/\/ga-pstg.servidortemporal.net\/en\/"},{"@type":"ListItem","position":2,"name":"Ana Mart\u00ednez-Pina analyses the European proposal on financial supervision | FundsPeople"}]},{"@type":"WebSite","@id":"https:\/\/ga-pstg.servidortemporal.net\/en\/#website","url":"https:\/\/ga-pstg.servidortemporal.net\/en\/","name":"Despacho de abogados G\u00f3mez-Acebo & Pombo","description":"G\u00f3mez-Acebo y Pombo es una firma de abogados independiente, con experiencia internacional, especializada en todas las \u00e1reas del derecho de los negocio.","publisher":{"@id":"https:\/\/ga-pstg.servidortemporal.net\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ga-pstg.servidortemporal.net\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ga-pstg.servidortemporal.net\/en\/#organization","name":"Despacho de abogados G\u00f3mez-Acebo & Pombo","url":"https:\/\/ga-pstg.servidortemporal.net\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ga-pstg.servidortemporal.net\/en\/#\/schema\/logo\/image\/","url":"https:\/\/ga-pstg.servidortemporal.net\/wp-content\/uploads\/2024\/09\/Logo-1-1.svg","contentUrl":"https:\/\/ga-pstg.servidortemporal.net\/wp-content\/uploads\/2024\/09\/Logo-1-1.svg","caption":"Despacho de abogados G\u00f3mez-Acebo & Pombo"},"image":{"@id":"https:\/\/ga-pstg.servidortemporal.net\/en\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/ga-pstg.servidortemporal.net\/en\/wp-json\/wp\/v2\/noticia\/382016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ga-pstg.servidortemporal.net\/en\/wp-json\/wp\/v2\/noticia"}],"about":[{"href":"https:\/\/ga-pstg.servidortemporal.net\/en\/wp-json\/wp\/v2\/types\/noticia"}],"wp:attachment":[{"href":"https:\/\/ga-pstg.servidortemporal.net\/en\/wp-json\/wp\/v2\/media?parent=382016"}],"wp:term":[{"taxonomy":"categoria","embeddable":true,"href":"https:\/\/ga-pstg.servidortemporal.net\/en\/wp-json\/wp\/v2\/categoria?post=382016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}