Madrid, 20 June 2006 – LAWFUEL – Law News Network -The European Commission has appointed Maria Gracia Rubio, a partner with Baker & McKenzie, as one of 20 experts in the European Securities Markets Expert Group (ESME). She is one of only four lawyers to have been chosen from over 120 applications for the posts. The majority of the other members of the group represent banks and includes economists and accountants.
ESME will examine how EU securities Directives work in practice and propose changes where necessary. It is a crucial part of the ‘Better Regulation’ agenda for financial services. “This group will play an important part in our drive to create a world beating regulatory framework for Europe in the field of financial services. We have been able to appoint top-class market experts with the right depth and breadth of practical experience,” said Charlie McCreevy, Internal Market and Services Commissioner.
“It’s an honour to have been selected for this position and to be able to take part in this drive to create coherent securities markets across the EU,” said Maria Gracia. The group will report on the provisions of the Markets in Financial Instruments Directives (MiFID), the Prospectus Directive, the Market Abuse Directive and the Transparency Directive. It will also analyse the economic impact of those Directives. Its other responsibilities include responding to specific requests from the Commission such as on credit rating agencies and the role of financial analysts.
Maria Gracia is a graduate of Harvard Law School and Madrid Complutense University. Her practice specialises in financial services regulation, venture capital & private equity, derivatives and financial products, and securitisation & structured finance.