José Carlos Sánchez-Vizcaíno, Depositary Monitoring director of Cecabank, has participated in the debate on the proposal of the European Commission to centralise some monitoring responsibilities within the framework of the Union of Capital markets and the Savings and Investments Union (SIU).
José Carlos has pointed out: “Maintain a leading role by the ANC, for its knowledge of the local market and its proximity to the supervised companies, is fundamental to calibrate properly the stock supervisor and optimise the protection of investors. The domestic monitoring is adapted to the actual heterogeneity of the markets and contributes to promote the innovation and the adoption of the best practices between the ANC”.
In addition, has put the focus in the need of improving the coordination and share details, more than in reasignar responsibilities: “There are authorities that they have different levels of information of the activity of the supervised companies, which is why there is margin of improvement in this field”, emphasising the value of the supervisor's datum level Spanish and supporting the creation of European repositories or shared systems that they allow to the ANC access information of companies present in different jurisdictions and to ESMA coordinate stock, without substituting the everyday work national.
