- ECON committee votes 43-1-3 in favour of Carlo Comporti as new ESMA Chairperson.
- Thomas Gstädtner approved as new EBA Executive Director with 46-0-3.
- Public hearings held on Wednesday ahead of the 2 September decision.
- Plenary vote on both candidates expected in September.
ECON Committee Vote
The European Parliament's Committee on Economic and Monetary Affairs (ECON) has endorsed the candidates for the two leading positions at EU's financial supervisory authorities. The decision was taken on 2 September, following public hearings held on the preceding Wednesday.
The committee approved both candidates with overwhelming majorities, recommending them for confirmation in plenary.
Vote Results
| Candidate | Position | In favour | Against | Abstentions |
|---|---|---|---|---|
| Carlo Comporti | ESMA Chairperson | 43 | 1 | 3 |
| Thomas Gstädtner | EBA Executive Director | 46 | 0 | 3 |
Carlo Comporti received 43 votes in favour, one against, and three abstentions. Thomas Gstädtner achieved unanimous support from those voting with 46 in favour and three abstentions.
Appointment Procedures
The procedures for both positions are set out in the respective ESMA and EBA Regulations.
ESMA Chairperson is appointed in accordance with Article 48(2) of the ESMA Regulation. The process involves the following steps:
- The ESMA Board of Supervisors prepares a shortlist following an open selection procedure
- The Council selects a candidate
- ECON holds a public hearing with the candidate
- ECON MEPs vote in secret on the appointment
- The Plenary confirms the appointment
- The Council adopts a decision to appoint the ESMA Chair
EBA Executive Director is appointed in accordance with Article 51(2) of the EBA Regulation. The process is as follows:
- The EBA Board of Supervisors selects a candidate following an open selection procedure
- ECON holds a public hearing with the candidate
- ECON MEPs vote in secret on the appointment
- The Plenary confirms the appointment
- The EBA Board of Supervisors appoints the Executive Director
Next Steps and Rapporteur
The European Parliament is expected to vote on both candidates during the September plenary session. The rapporteur for both appointments is Aurore Lalucq (S&D, France).
Background on the Two Authorities
ESMA (European Securities and Markets Authority) is the EU's supervisory authority for securities and market regulation, headquartered in Paris. EBA (European Banking Authority) is the EU's supervisory authority for the banking sector, based in Frankfurt. Both authorities are part of the European Supervisory Authorities network and play a central role in EU financial supervision and oversight.