ESMA appoints Saxo’s Dr. Gary Chia-Hsing Li to Secondary Markets Consultative Working Group
Saxo Bank’s Head of Regulatory Affairs, Dr. Gary Chia-Hsing Li, has been selected by ESMA to join its Secondary Markets Standing Committee Consultative Working Group with a three-year mandate.
Saxo Bank today announces that it’s Head of Regulatory Affairs, Dr. Gary Chia-Hsing Li, has been selected to join the Consultative Working Group (CWG) for ESMA’s Secondary Markets Standing Committee (SMSC).
Beginning on 1st November 2020, Gary will join the CWG comprised of market participants, consumer protection groups and fellow industry representatives for a three-year term to advise and assist the SMSC on technical standards to be submitted to the European Commission.
The SMSC is responsible for assessing the impact of changes in the market structure while also helping to develop the regulator’s policy in relation to the structure, transparency and efficiency of secondary markets for financial instruments, including trading venues and OTC markets. The SMSC also provides a forum for the exchange of experiences on MiFID II implementation.
Commenting on his appointment, Dr. Gary Chia-Hsing Li, Head of Regulatory Affairs at Saxo Bank, said: “It is a great privilege to be selected by ESMA to represent our industry on the Secondary Markets Standing Committee’s Consultative Working Group and I look forward to contributing to the important work of the Committee in its mission of improving the regulatory environment.”
Commenting on the appointment, Steen Blaafalk, Group Chief Financial and Risk Officer at Saxo Bank, said: “We are delighted that Dr. Gary Chia-Hsing Li has been chosen by ESMA to support the work of the Secondary Markets Standing Committee for the next three years. Gary brings with him a wealth of knowledge and experience in the pan-European regulatory space which I’m sure will make him a welcome addition to the Consultative Working Group.
As a multinational organisation, at Saxo Bank we take a proactive and constructive approach to working with multiple regulators across Europe and recognise the importance of industry feedback in the development of policy. By implementing the appropriate improvements and innovation – a key philosophy at Saxo Bank – we can strike the right balance and bring about lasting change that is positive for both clients, market participants and the industry as a whole.”