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ESMA elected Carlos San Basilio of Spain’s CNMV to its Management Board at a meeting in Paris on October 6, 2026. He is due to replace Carlo Comporti on November 1, when Comporti takes up the role of ESMA Chair.
The European Securities and Markets Authority has elected Carlos San Basilio of Spain’s National Securities Market Commission, or CNMV, as a new member of its Management Board. He will take the seat held by Carlo Comporti when Comporti becomes ESMA Chair on November 1, 2026, the EU markets regulator said.
The election took place at a Board of Supervisors meeting in Paris on October 6, 2026, according to ESMA. San Basilio is affiliated with the CNMV, Spain’s national securities market authority. The regulator’s announcement names him as Comporti’s replacement on the Management Board.
Comporti, currently associated with Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB), will step down from his Management Board membership to take up the ESMA chairmanship. Both changes are scheduled for November 1. ESMA’s published membership list for that date includes Comporti as Chair and San Basilio as a member, alongside representatives from national authorities and ESMA.
The listed board members from national authorities are Thorsten Pötzsch of Germany’s BaFin, Marie-Anne Barbat-Layani of France’s AMF, Christopher P. Buttigieg of Malta’s MFSA, Peter Tkáč of Slovakia’s NBS and Armi Taipale of Finland’s FIN-FSA. ESMA Executive Director Natasha Cazenave is listed as a non-voting member, while ESMA Vice-Chair Vojtěch Belling is listed as an observer. A European Commission representative is also listed as a non-voting member.
A New Seat as ESMA Changes Chair
The appointment links a change in ESMA’s board membership to a leadership handover at the EU’s financial markets regulator. San Basilio will join the board as Comporti becomes Chair, keeping a representative from Spain’s national securities authority among the members while Comporti moves into the organisation’s top role.
ESMA says its Management Board is responsible for ensuring that the authority fulfils its mission and carries out tasks assigned under its founding Regulation. The board therefore has a role in the regulator’s organisational direction and oversight of its work. The announcement confirms the personnel change, but does not set out any policy priorities or changes to ESMA’s regulatory approach tied to San Basilio’s appointment.
For financial firms, investors and national regulators, the practical relevance is the composition of the body responsible for ESMA’s institutional work. The appointment itself does not announce a new rule, enforcement measure or supervisory policy. Its immediate effect is a change in who holds a board seat as the chairmanship changes hands.
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How the Board Change Fits
ESMA is the European Union authority responsible for financial markets regulation and supervision, as described in its announcement. Its Management Board is chaired by the ESMA Chair and is responsible for ensuring the authority carries out its mandate under its founding Regulation. The Board of Supervisors meeting in Paris on October 6 was the venue for the election of San Basilio.
The change involves two linked appointments, rather than a stand-alone departure: Comporti is leaving the board-member position to become ESMA Chair, while San Basilio is taking the board seat he vacates. ESMA’s list gives the board’s composition from November 1, 2026, and identifies voting status for some participants: Cazenave and the European Commission representative are non-voting members, and Belling is an observer.
The source announcement does not provide a biography of San Basilio, details of his prior work at the CNMV, or information about the process beyond stating that an election took place at the Board of Supervisors meeting. No broader institutional reorganisation is described.
“The Management Board, chaired by the ESMA Chair, is responsible for ensuring that the Authority fulfils its mission and carries out the tasks assigned to it under its founding Regulation.”
— European Securities and Markets Authority
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Details Beyond the Appointment
ESMA’s announcement confirms the election, San Basilio’s CNMV affiliation, the October 6 meeting date and the November 1 effective date. It does not give further information about San Basilio’s term, his selection process, or his priorities as a board member. The source also does not describe any expected changes to board procedures or ESMA policy following the appointments.
The published composition is stated for November 1, 2026. The announcement does not specify whether any later membership changes are planned. Until ESMA provides additional information, the confirmed development is limited to the named appointment and the scheduled change in Comporti’s role.
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Changes Take Effect November 1
The next stated milestone is November 1, 2026, when Comporti is due to assume the ESMA chairmanship and San Basilio is due to take his place on the Management Board. ESMA’s announcement presents the board roster from that date but does not identify a later meeting or additional appointment announcement.
Further details about San Basilio’s responsibilities, priorities or term would need to come from ESMA or the CNMV. For now, the regulator has announced the election and effective date, with no accompanying policy decision.
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Key Questions
Who has ESMA appointed to its Management Board?
ESMA elected Carlos San Basilio of Spain’s CNMV to the Management Board.
When was the election held?
The election took place at the Board of Supervisors meeting in Paris on October 6, 2026.
When does San Basilio’s appointment take effect?
ESMA says the change takes effect on November 1, 2026.
Why is Carlo Comporti leaving the board seat?
Comporti will leave his Management Board membership to take up his new role as ESMA Chair, effective November 1.
Does the appointment announce a change in ESMA policy?
No policy change is described in the announcement. It reports a board appointment and leadership change, without setting out new regulatory priorities or measures.
Source: primary
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