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ESMA appointed Carlos San Basilio of Spain’s CNMV to its Management Board in an election held in Paris on 6 October 2026. He will take the seat from 1 November, when Carlo Comporti steps down from the board to become ESMA Chair.
The European Securities and Markets Authority (ESMA) has appointed Carlos San Basilio of Spain’s securities regulator, the Comisión Nacional del Mercado de Valores (CNMV), to its Management Board. The election took place in Paris on 6 October 2026, and San Basilio will join the board on 1 November, replacing Carlo Comporti as Comporti takes up the role of ESMA Chair.
ESMA said the appointment was made at a meeting of its Board of Supervisors. San Basilio’s board membership starts on 1 November 2026, the same date Comporti is due to step down from the Management Board to assume the authority’s chairmanship. The announcement identifies San Basilio as a representative of the CNMV; it does not provide further detail about his responsibilities within the board.
From 1 November, the Management Board will include Comporti, Thorsten Pötzsch of Germany’s BaFin, San Basilio, Marie-Anne Barbat-Layani of France’s AMF, Christopher P. Buttigieg of Malta’s MFSA, and Peter Tkáč of Slovakia’s NBS. ESMA Executive Director Natasha Cazenave will be a non-voting member, while ESMA Vice-Chair Vojtěch Belling will attend as an observer. A European Commission representative will also participate as a non-voting member.
The announcement describes the change as a replacement within the board as Comporti moves to the chair position. It does not report a change to the board’s remit, any new policy decision, or a change to ESMA’s wider leadership structure beyond that personnel transition.
A Spanish Regulator Joins ESMA Leadership
The appointment gives Spain’s national markets regulator representation on ESMA’s Management Board through San Basilio. The board is responsible for ensuring ESMA carries out its mission and performs tasks assigned under the authority’s founding regulation, making it part of the leadership overseeing the EU-level securities regulator’s work.
The change also coincides with Comporti’s move to become ESMA Chair. That means the board’s membership and its chairmanship change on the same date, 1 November 2026. The source confirms the appointments and board composition, but does not describe how the new lineup will affect regulatory priorities or specific decisions. Any assessment of policy effects would go beyond the information released.
For readers following EU financial regulation, the development is relevant as a leadership and governance update rather than an announcement of a new rule. ESMA’s board oversees the authority’s execution of its duties; the appointment places a CNMV representative among its members, but the announcement does not attribute any particular policy position to San Basilio.
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How ESMA’s Board Is Structured
ESMA is the European Union’s financial markets regulator and supervisor. Its Management Board is chaired by the ESMA Chair and is responsible for ensuring that the authority carries out its mission and performs the tasks set by its founding regulation. The Board of Supervisors, which held the Paris meeting on 6 October, is the body at which the election took place, according to ESMA.
The announced lineup distinguishes between voting members and participants with other statuses. Cazenave is listed as a non-voting member, Belling as an observer, and the European Commission representative as non-voting. ESMA did not state in this announcement how San Basilio was selected beyond saying that the election took place at the Board of Supervisors meeting.
The appointment is tied to a separate leadership change: Comporti, identified in the announcement with Italy’s CONSOB, will leave his board-member role to become ESMA Chair from 1 November. The source does not provide additional biographical details about San Basilio or outline the length of his Management Board term.
“The election took place at the Board of Supervisors meeting in Paris on 6 October 2026.”
— European Securities and Markets Authority
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Term Details and Policy Effects
ESMA’s announcement does not specify the length of San Basilio’s term, the selection process beyond the election at the Board of Supervisors meeting, or any portfolio or committee responsibilities he may hold. It also gives no indication of whether his appointment will affect ESMA’s regulatory agenda or decisions.
The statement sets out the board’s composition from 1 November but does not provide further details about the timing or formalities of Comporti’s chair appointment beyond saying it is effective that day. Those points should not be inferred from the membership announcement.
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Board Changes Take Effect November 1
The confirmed next step is the change in roles on 1 November 2026: San Basilio is due to take his place on the Management Board, while Comporti steps down from board membership to take up the ESMA Chair role. ESMA’s announcement provides no later meeting date or additional milestones.
Further information may clarify San Basilio’s term and responsibilities, but none is included in the statement. For now, the reported development is limited to the election, the effective date, and the composition ESMA says the board will have from November.
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Key Questions
Who has ESMA appointed to its Management Board?
ESMA appointed Carlos San Basilio of Spain’s Comisión Nacional del Mercado de Valores (CNMV).
When does San Basilio join the board?
His appointment takes effect on 1 November 2026. The election took place on 6 October at a Board of Supervisors meeting in Paris.
Whom is San Basilio replacing?
He will replace Carlo Comporti as a Management Board member. Comporti is stepping down from the board to take up the role of ESMA Chair, effective 1 November.
What does ESMA’s Management Board do?
ESMA says the board, chaired by the ESMA Chair, is responsible for ensuring that the authority carries out its mission and performs tasks assigned under its founding regulation.
Has ESMA announced San Basilio’s term or policy responsibilities?
No. The announcement does not specify his term length, individual responsibilities, or any expected effect on ESMA policy.
Source: primary
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