Prof. Kaserer has been appointed as a member of the Group of Economic Advisors (GEA) of the European Securities and Markets Authority (ESMA) for the period 2016 to 2018. ESMA has established the GEA to benefit from the expertise of stakeholders who are specialised in the analysis and risk assessment related to the markets under ESMA’s remit (securities markets, market infrastructures, institutional and retail investors) and with a view to ESMA’s institutional objectives, in particular to promote investor protection, orderly markets and financial stability. GEA gives advice regarding ESMA's market analytical activities.