- The appointment is for a two-and-a-half year term which is renewable for another additional term
- The President of the CNMV will also be a member of the Mediation Panel
MADRID, 30-Mar-2017 — /EuropaWire/ — The President of the Spanish National Securities Market Commission (CNMV), Sebastián Albella, was appointed today as a member of the Management Board of the European Securities and Markets Authority (ESMA). The President of the CNMV will also be a member of the ESMA Mediation Panel.
ESMA Management Board is comprised of the Chair, Steven Maijoor, and six members selected from the Board of Supervisors by its voting members. The Board of Supervisors is the main decision-taking body of ESMA, consisting of the heads of the national supervisors that are ESMA members.
Sebastián Albella’s appointment is in line with CNMV’s strategy of participating and playing a role as active as possible in key international forums, particularly the ESMA, which role in European rulemaking and in driving and coordinating convergence of supervision in Europe is very relevant.
The Management Board’s main purpose is to ensure ESMA complies with its terms of reference as established by the European Parliament and the Council in its Founding Regulation. Its functions include proposing the annual and multi-annual ESMA work programmes ESMA for adoption by the Board of Supervisors.
The appointment is for a two-and-a-half year term and is renewable for another additional term.
ESMA Management Board is comprised of Steven Maijoor (ESMA), Birgitte Søgaard Holm (FSA – Denmark), Elisabeth Roegele (BaFin – Germany), Klaus Kumpfmüller (FMA – Austria), Gabriela Figueiredo Dias (CMVM – Portugal), and Sebastian Albella.
For more information:
CNMV Communication Department
Tel.: 91 5851530