Yesterday The European Securities & Markets Stakeholder Group (SMSG) elected Guillaume Prache, Secretary General of Euroshareholders and Managing Director of EuroInvestors, as its first chairman. This is the first time a European Financial Supervision body is having a global consultative group chaired by a representative from the consumer side. "This is particularly welcome in these challenging times of the worst financial and economic crisis Europe is facing since the Second World War. I look forward to do my best together with my colleagues of the SMSG to help the European financial authorities to get out of this with users' protection as a key goal in mind" said the new chairman. The Group also elected two vice chairs: Judith Hardt, Secretary General of FESE (Federation of European Securities Exchanges), and Peter de Proft, Secretary General of EFAMA (European Fund and Asset Management Association).