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A-Team Insight Blogs

MiFID II Lead Rodrigo Buenaventura Leaves ESMA at End of March

Rodrigo Buenaventura, head of the markets department at the European Securities and Markets Authority (ESMA) and leader of the authority’s implementation of Markets in Financial Instruments Directive II (MiFID II), will step down from the post at the end of this month. He will be replaced by Fabrizio Planta, currently head of ESMA’s post trading unit, who will be acting head of the markets department from 1 April, 2017.

Buenaventura is moving to the position of director general for markets at the Spanish financial supervisor CNMV, where he has previously worked, first as head of international affairs from January 2005 to March 2007, and then as head of secondary markets from March 2007 to August 2011. He joined ESMA in 2011 and has worked at the authority for nearly six years.

Buenaventura’s departure from ESMA comes at a critical time, with the authority in the final stages of completing Level 2 and Level 3 texts for MiFID II and Markets in Financial Instruments Regulation (MiFIR), firms within the scope of the regulation trying to progress implementation despite a lack of clarity, and the regulatory deadline of 3 January 2018 looming.

If you would like to apply for the job and lead ESMA’s markets department as it writes the rest of the rules for MiFID II, head over to the authority’s vacancy pages where you will find a description of the job, which includes oversight of not only MiFID II and MiFIR, but also European Market Infrastructure Regulation (EMIR), Central Securities Depositories Regulation (CSDR), Benchmarks Regulation, Market Abuse Regulation (MAR) and Short Selling Regulation (SSR).

The role reports to ESMA’s executive director and will initially be a temporary assignment of five years at an ESMA location in Paris. It will certainly be a tough job and in the public eye, but the salary and holiday entitlements look pretty good, although to be eligible to apply you do need to have at least a level of education that corresponds to completed university studies of four years in a field relevant to the position, and at least 15 years of proven professional experience in some or all of the fields covered by the job description. Applications close on 14 April 2017. Good luck!

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