ESMA appoints CNMV official to management board ahead of November leadership change
Europe's securities regulator is reshaping its top governance structure before a leadership transition takes effect next month. Carlos San Basilio of Spain's CNMV joins the Management Board as Carlo Comporti leaves his board seat to become ESMA chair from 1 November 2026.
Highlights
- Carlos San Basilio from CNMV has been appointed to ESMA's Management Board, replacing Carlo Comporti of CONSOB effective 1 November 2026.
- Carlo Comporti will become ESMA chair on 1 November 2026 following an election at the Board of Supervisors meeting in Paris on 6 October 2026.
- From 1 November 2026, ESMA's Management Board will include representatives from Spain's CNMV, Germany's BaFin, France's AMF, Malta's MFSA, Slovakia's NBS, and Finland's FIN-FSA.
Board changes take effect in November
As reported by ESMA, citing the European Securities and Markets Authority, Carlos San Basilio has been appointed as a new member of ESMA's Management Board, representing Spain's Comisión Nacional del Mercado de Valores, or CNMV.He replaces Carlo Comporti of Italy's CONSOB, who steps down from his position as a board member to assume the role of ESMA chair, effective 1 November. The election takes place at the Board of Supervisors meeting in Paris on 6 October 2026.
Governance role in EU markets oversight
From 1 November 2026, the Management Board consists of Comporti, Thorsten Pötzsch of Germany's BaFin, San Basilio, Marie-Anne Barbat-Layani of France's AMF, Christopher P. Buttigieg of Malta's MFSA, Peter Tkáč of Slovakia's NBS, Armi Taipale of Finland's FIN-FSA, ESMA Executive Director Natasha Cazenave as a non-voting member, ESMA Vice-Chair Vojtěch Belling as an observer, and a European Commission representative as a non-voting member.Chaired by the ESMA chair, the Management Board is responsible for ensuring that the authority carries out its mission and performs the tasks assigned to it under its founding regulation.
In our earlier coverage of the EU’s post-pandemic Recovery and Resilience Facility, we explained how the roughly €800 billion recovery effort channels €573 billion in grants and loans through staged payouts tied to national reform milestones and measurable targets. We also noted that about €440 billion had been disbursed by the end of August, with final payments scheduled by year-end, framing the program as an important—though limited—precedent for coordinated EU-wide action.
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