MEPs back candidates for ESMA Chair and EBA Executive Director 

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Economic and Monetary Affairs Committee (ECON) MEPs voted to endorse candidates for the positions of ESMA Chair and EBA Executive Director, following public hearings held on Wednesday.

The Committee approved Carlo Comporti as the new Chairperson of the European Securities and Markets Authority (ESMA), with 43 votes in favour, 1 against and 3 abstentions.

This appointment procedure is set out in Article 48(2) of the ESMA Regulation:

1. Following an open selection procedure, the ESMA Board of Supervisors prepares a shortlist of candidates
2. Council selects a candidate
3. ECON committee holds a public hearing with a candidate
4. ECON MEPs vote on the appointment of a candidate on 2 September (secret vote)
5. Plenary vote to confirm the appointment (plenary session in September)
6. After confirmation by Parliament, the Council adopts a decision to appoint the ESMA Chair

ECON MEPs approved the candidacy of Thomas Gstädtner as the new Executive Director of the European Banking Authority (EBA), with 46 votes in favour, 0 against and 3 abstentions.

This appointment procedure is set out in Article 51(2) of the EBA Regulation:

1. Following an open selection procedure, the EBA Board of Supervisors selects a candidate
2. ECON committee holds a public hearing with a candidate
3. ECON MEPs vote on the appointment of a candidate on 2 September (secret vote)
4. Plenary vote to confirm the appointment (plenary session in September)
5. After confirmation by Parliament, the EBA Board of Supervisors appoints the Executive Director

Next steps

The European Parliament is expected to vote on both candidates during the September plenary session.