The financial authorities have renewed to Michele Siri, professor of commercial law at the Department of Law and director of the Jean Monnet EU Sustainable Finance and Law Center of Excellence (EUSFiL), the five-year term as a member of the European Supervisory Authorities Board of Appeal (ESBA), which he joined in 2018 and in which, as of 2021, he serves as chairman.

This is a significant recognition that helps strengthen the visibility and reputation of the University of Genoa in the European context.

European Supervisory Authorities Board of Appeal

The Board of Appeal is a joint body of the European Supervisory Authorities.

The founding regulations of the European Supervisory Authorities (EBA, EIOPA, and ESMA) provide for an independent Board of Appeals that operates within the three authorities that are part of the European system of financial supervision. The Board of Appeal is responsible for deciding on appeals brought by directly supervised entities and any natural or legal person who can demonstrate an individual interest in decisions rendered by the three European authorities. Decisions of the Board of Appeal are appealable to the Court of Justice of the European Union.

Just these days, in the MiCA regulation on cryptocurrency markets being approved, EBA and ESMA are given informational, inspection and sanctioning powers over token issuers, including suspending the public offering of crypto-assets or banning token trading on trading platforms. In the coming weeks, however, the European Commission's proposals under the Retail Investment Strategy to revise MiFID and the Insurance Distribution Directive with additional intervention and coordination tasks for ESMA and EIOPA are expected.