Carlos San Basilio has taken up his new position, that of president of the National Securities Market Commission (CNMV) this Wednesday, in an event that brought together a multitude of attendees, including leading figures of the Ibex 35 (such as Gonzalo Gortázar, president of CaixaBank, or that of BBVA, Carlos Torres), as well as heads of different institutions in the financial industry Spanish. Along with San Basilio, the new vice president of the markets regulator, Paloma Marín, also took office. Their terms will be 6 years.
San Basilio lands at the CNMV with the European regulation for cryptosMiCA -Markets in Crypto-Assets- just came into force (he did it on December 30). MiCA regulates the issuance, offer and admission to trading of cryptoassets in the EU. In his speech, the new president mentioned, without quoting them verbatim, virtual currencies, when he explained that one of his commitments as president of the supervisor is the protection of investors: “A lot of progress has been made in recent years, but the experience has taught us the risks of overconfidence. In relation to retail investors, “the possible expansion of their investment options to riskier and potentially more profitable products is desirable, as long as it is done with the necessary supervisory mechanisms on issues such as advertising, transparency and risk control.” taken”. We must, he added, have the appropriate regulatory framework, “but also delve into issues such as financial education and the permanent prosecution of financial fraud.”
San Basilio also alluded to a long-standing demand: the CNMV team needs to “have the technical means and professional capabilities necessary to carry out its work,” he explained. In this sense, the new president expressed his commitment to the organization’s staff: “I will do everything in my power so that they can do their work in the best possible conditions”.
For her part, the new vice president, Paloma Marín, considered it “key” that the CNMV commits to openness and rapprochement with society to “gain trust and credibility.”
Present at the event was Rodrigo Buenaventura, whom San Basilio replaces as head of the regulator and who leaves the CNMV to preside over IOSCO (the Council of the International Organization of Securities Commissions). Buenaventura wished San Basilio and Marín success, as did the outgoing vice president, Montserrat Martínez Parera, who wished Buenaventura the best and added that, during her time at the head of the CNMV, “I believe that we have known how to reach port in always so calm.”
The governor of the Bank of Spain, José Luis Escrivá, also attended the inauguration; the deputy governor of the Bank of Spain, Soledad Núñez; the president of the National Markets and Competition Commission (CNMC); Cani Fernández; the president of Unespa; Mirenchu del Valle; the general director of CECA, José María Méndez; the president of Inverco, Ángel Martínez-Aldama, or the former governor of the Bank of Spain Pablo Hernández de Cos. On behalf of the banking sector, in addition to the presidents of BBVA and CaixaBank, their counterpart from Sabadell, Josep Oliu; that of Renta 4, Juan Carlos Ureta, and the non-executive president of Santander Spain, Luis Isasi, among others.
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