Steven Maijoor has been appointed for a second term at the helm of Europe’s top securities watchdog, as the region’s capital markets industry awaits a final verdict on how a key post-crisis reform will be implemented.

The board of supervisors of the European Securities and Markets Authority on Thursday decided to extend the terms of both Maijoor and executive director Verena Ross for another five years. The decision to give Maijoor a second term, which was based on a performance review of the past five years, is subject to confirmation by the European Parliament.