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{"id":382017,"date":"2025-12-09T09:53:26","date_gmt":"2025-12-09T08:53:26","guid":{"rendered":"https:\/\/ga-p.com\/?post_type=noticia&p=382017"},"modified":"2025-12-09T11:40:49","modified_gmt":"2025-12-09T10:40:49","slug":"ana-martinez-pina-analisa-a-proposta-europeia-sobre-supervisao-financeira-fundspeople","status":"publish","type":"noticia","link":"https:\/\/ga-pstg.servidortemporal.net\/pt-pt\/noticia\/ana-martinez-pina-analisa-a-proposta-europeia-sobre-supervisao-financeira-fundspeople\/","title":{"rendered":"Ana Mart\u00ednez-Pina analisa a proposta europeia sobre supervis\u00e3o financeira | FundsPeople"},"content":{"rendered":"
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A iniciativa da Comiss\u00e3o Europeia para refor\u00e7ar o papel da ESMA reabre o debate sobre o equil\u00edbrio entre supervis\u00e3o europeia e nacional.<\/h4>\n\n\n\n

A Comiss\u00e3o Europeia apresentou uma nova proposta para avan\u00e7ar na integra\u00e7\u00e3o dos mercados financeiros no \u00e2mbito da Uni\u00e3o dos Mercados de Capitais, reativando o debate sobre a conveni\u00eancia de alargar as compet\u00eancias da ESMA e centralizar parte da supervis\u00e3o. Embora exista consenso de que a Europa precisa de maior coer\u00eancia e converg\u00eancia supervisora, o setor alerta que uma centraliza\u00e7\u00e3o total poderia ser ineficaz.<\/p>\n\n\n\n

Para Ana Mart\u00ednez-Pina, s\u00f3cia de Regula\u00e7\u00e3o Financeira e Seguros da G\u00f3mez-Acebo & Pombo, a ESMA j\u00e1 desempenha um papel fundamental na supervis\u00e3o de entidades transfronteiri\u00e7as: \u201cA ESMA j\u00e1 exerce uma fun\u00e7\u00e3o relevante no contexto europeu, com compet\u00eancias regulat\u00f3rias e de supervis\u00e3o direta sobre entidades cuja atividade \u00e9 transfronteiri\u00e7a por natureza, como ag\u00eancias de nota\u00e7\u00e3o de cr\u00e9dito ou c\u00e2maras de compensa\u00e7\u00e3o central.\u201d<\/p>\n\n\n\n

No entanto, Mart\u00ednez-Pina considera que estender a supervis\u00e3o direta a todos os intervenientes europeus n\u00e3o seria adequado. Como explica, \u201cpoderia fazer sentido para intervenientes claramente paneuropeus, como determinados prestadores de servi\u00e7os de criptoativos, mas n\u00e3o para uma centraliza\u00e7\u00e3o generalizada.\u201d Al\u00e9m disso, sublinha a import\u00e2ncia das autoridades nacionais: \u201cAs Autoridades Nacionais Competentes (ANC) aportam conhecimento t\u00e9cnico e proximidade ao mercado local, ao perfil de produtos e investidores, bem como ao contexto jur\u00eddico-fiscal pr\u00f3prio. Este canal dom\u00e9stico \u00e9 valioso para a dete\u00e7\u00e3o de riscos.\u201d<\/p>\n\n\n\n

A partir desta perspetiva, a ind\u00fastria defende que, antes de alargar as compet\u00eancias da ESMA, devem ser refor\u00e7adas ferramentas existentes, como directrizes, Q&A e grupos de converg\u00eancia, que ajudam a reduzir diverg\u00eancias de forma gradual. Os especialistas concordam que a supervis\u00e3o direta europeia deve focar-se em intervenientes verdadeiramente transfronteiri\u00e7os, enquanto as autoridades nacionais continuam a ser essenciais para garantir a prote\u00e7\u00e3o do investidor e a compreens\u00e3o do mercado local.<\/p>\n\n\n\n

O consenso geral do setor aponta que a converg\u00eancia supervisora deve ser constru\u00edda atrav\u00e9s da coopera\u00e7\u00e3o, partilha de dados e elimina\u00e7\u00e3o de duplicidades, e n\u00e3o atrav\u00e9s de uma centraliza\u00e7\u00e3o total.<\/p>\n\n\n\n

\n\n Ver not\u00edcia<\/span>\n
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Advogado mencionado<\/div>\n
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\n <\/span>\n Ana Mart\u00ednez-Pina<\/a>\n – S\u00f3cia<\/span>\n <\/p>\n <\/div>\n <\/div>\n \n

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Tipolog\u00eda<\/div>\n

\n <\/span>\n Men\u00e7\u00e3o<\/span>\n <\/p>\n <\/div>\n \n

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\u00c1reas e sectores<\/div>\n

\n <\/span>\n Regula\u00e7\u00e3o Financeira<\/a>\n <\/p>\n

\n <\/span>\n Seguros e Fundos de Pens\u00f5es<\/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

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\n Ver acima \"icon\"\n <\/a>\n Ver seguinte \"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":"

A iniciativa da Comiss\u00e3o Europeia para refor\u00e7ar o papel da ESMA reabre o debate sobre o equil\u00edbrio entre supervis\u00e3o europeia e nacional.<\/p>\n","protected":false},"featured_media":0,"template":"","categoria":[272],"class_list":["post-382017","noticia","type-noticia","status-publish","hentry","categoria-mencao"],"acf":[],"yoast_head":"\nMart\u00ednez-Pina analisa a proposta europeia sobre supervis\u00e3o financeira<\/title>\n<meta name=\"description\" content=\"A iniciativa da Comiss\u00e3o Europeia para refor\u00e7ar o papel da ESMA reabre o debate sobre o equil\u00edbrio entre supervis\u00e3o europeia e nacional.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"pt_PT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mart\u00ednez-Pina analisa a proposta europeia sobre supervis\u00e3o financeira\" 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