European Commissioner for Financial Stability, Financial Services and the Capital Markets Union explained

The European Commissioner for Financial Stability, Financial Services and the Capital Markets Union is the member of the European Commission responsible for banking and finance. The current officeholder is Mairead McGuinness.

Responsibilities

The post is responsible for the ensuring that financial markets are properly regulated and supervised so that they are stable, competitive and transparent, at the service of jobs and growth. This includes the full implementation of the Banking Union. They are also responsible for establishing a Capital Markets Union by 2019 for all 28 Member States of the EU,^{[4] [5]} and maximising the benefits of capital markets and non-bank financial institutions for the rest of the economy, and in particular SMEs.

In addition, the post is responsible for proposing measures to make financial services work better for consumers and retail investors, and promoting global consistency in regulation and the implementation of agreed standards and principles in cooperation with international partners.^[6]

List of commissioners

Name		Country	Period	Commission	Portfolio actual name
	Christopher Tugendhat		1977–1981	Jenkins Commission	Budget and Financial Control, Financial Institutions
			1981–1985	Thorn Commission	Budget and Financial Control, Financial Institutions and Taxation (vice-president)
	Henning Christophersen		1985–1989	Delors Commission I	Budget, financial control, personnel and administration
	Abel Matutes		1986–1989		Credit, investments, financial instruments and small & medium-sized enterprises
	Sir Leon Brittan		1989–1992	Delors Commission II	Competition and financial institutions (vice-president)
	Peter Schmidhuber		1993–1994	Delors Commission III	Budget, financial control and the cohesion fund
	Anita Gradin		1995–1999	Santer Commission	Immigration, Justice & Home Affairs, Financial Control, Anti-fraud and Relations with the European Ombudsman.
	Charlie McCreevy		2004-2010	Barroso Commission I	Internal Market and Services
	Michel Barnier		2010-2014	Barroso Commission II	Internal Market and Services
	Lord Hill of Oareford		2014–2016	Juncker Commission	Financial Stability, Financial Services and Capital Markets Union
	Valdis Dombrovskis		2016–2019	Juncker Commission	Euro and Social Dialogue and Financial Stability, Financial Services and Capital Markets Union (vice-president)
			2019–2020	Von der Leyen Commission	Financial Markets
	Mairead McGuinness		2020–present	Von der Leyen Commission	Financial Stability, Financial Services and Capital Markets Union

See also

• Economy of the European Union
• Capital Markets Union
• Eurozone & Euro
• European Central Bank
• European Union Budget
• OLAF
• European Court of Auditors
• Directorate-General for Economic and Financial Affairs

External links

• Hill's website
• DG website

Notes and References

1. News: 8 September 2020 . 8 September 2020 . Mairead McGuinness named as Ireland's European commissioner, given 'important financial portfolio' . .
2. http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=CONSLEG:1967R0422:20040501:EN:PDF REGULATION No 422/67/EEC, 5/67/EURATOM OF THE COUNCIL
3. Base salary of grade 16, third step is €17,697.68: European Commission: Officials' salaries – accessed 19 March 2010
4. European Commission, Capital markets union action plan, accessed 9 May 2018
5. Vértesy. László. 2019. The legal and regulatory aspects of the free movement of capital - towards the Capital Markets Union. Journal of Legal Theory HU . 4 . 110–128 . 1588-080X.
6. http://ec.europa.eu/commission/2014-2019/hill_en European Commission: Commissioner Jonathan Hill