European supervisory authority for insurance and occupational pensions

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European supervisory authority for insurance and company pension schemes
EIOPA

EIOPA logo
 

Westhafen Tower in Frankfurt am Main, headquarters of EIOPA
English name European Insurance and Occupational Pensions Authority
French name Autorité européenne des assurances et des pensions professionnelles
Organization type European Union Agency
status Establishment of European public law with its own legal personality
Seat of the organs Frankfurt am Main , Germany
Chair Gabriel Bernardino
founding

November 24, 2010

eiopa.europa.eu

The European Supervisory Authority for Insurance and Occupational Pensions ( EIOPA , English E uropean I nsurance and O ccupational P ENSIONS A uthority ) is an agency of the European Union , on the legal basis of the EU Council Regulation 1094/2010 of 24 November 2010, the Financial Market Authority based in Frankfurt am Main . It is, as one of the three European Supervisory Authorities, part of the European System of Financial Supervision (ESFS, English European System of Financial Supervision ). The chairman is the Portuguese Gabriel Bernardino .

Background and history

EIOPA went on 1 January 2011 from the existing European Insurance and Occupational Pensions Authority (Committee of European Insurance and Occupational Pensions Supervisors, CEIOPS) forward and took over his duties.

The CEIOPS was set up by the European Commission on November 5, 2003 as part of the Lamfalussy process . The aim was to create an independent body for the exchange of views on issues relating to insurance and reinsurance and company pensions . The committee began its work on November 24, 2003. In the course of the financial crisis from 2007 onwards , the EU states agreed on the transfer of supervisory competences to the European level. The resulting ESFS was approved by the European Parliament on September 22, 2010. On January 10, the agency began its work with the adoption of the rules of procedure and the election of a vice-chairman and the election of the six members of the administrative board.

Field of activity

According to the ordinance, the activities of the authority should “also extend to the area of ​​activity of insurance and reinsurance companies as well as institutions for occupational retirement provision and insurance intermediaries, including questions of corporate governance as well as auditing and financial control”.

Differences between CEIOPS and EIOPA

The conversion from an advisory committee (CEIOPS) to an authority (EIOPA) transferred further competencies. CEIOPS itself had no authority to enforce a uniform EU supervisory law or to mediate a crisis and was only authorized to adopt non-binding guidelines and recommendations. EIOPA, on the other hand, can address binding individual decisions to insurance institutions and arbitrate differences of opinion between national supervisory authorities. Nevertheless, the focus of supervision of insurance companies and company pension schemes remains with the national supervisory authorities (in the case of Germany, for example, with the Federal Financial Supervisory Authority ).

Personal details

Board

Management Board

See also

Web links

Individual evidence

  1. ↑ Regulation (EU) No. 1094/2010 of the European Parliament and of the Council of November 24, 2010 on the establishment of a European supervisory authority (European supervisory authority for insurance and occupational pensions), amending Decision No. 716/2009 / EC and repealing Commission Decision 2009/79 / EC , accessed on June 14, 2013
  2. ↑ EIOPA press release of January 10, 2011. (PDF; 118 kB) (No longer available online.) EIOPA, January 10, 2011, archived from the original on September 4, 2012 ; Retrieved June 14, 2013 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / eiopa.europa.eu
  3. ↑ EIOPA press release of January 13, 2011. (PDF; 109 kB) (No longer available online.) EIOPA, January 13, 2011, formerly in the original ; Retrieved June 14, 2013 .  ( Page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.@1@ 2Template: Dead Link / eiopa.europa.eu  
  4. ↑ ec.europa.eu (PDF; 45 kB): Commission decision of January 23, 2009 to set up the committee of the European supervisory authorities for insurance and company pension schemes
  5. ↑ COD / 2009/0143: 22/09/2010 - EP: position, 1st reading or single reading  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.@1@ 2Template: Dead Link / www.europarl.europa.eu  
  6. ↑ ( Page no longer available , search in web archives: Inaugural meeting of the European Supervisory Authority for Insurance and Company Pension Plans (EIOPA) )@1@ 2Template: Toter Link / derstandard.at
  7. ↑ Sybille Reitz: EIOPA ELECTS ITS FIRST MANAGEMENT BOARD. EIOPA, January 10, 2011 .
  8. ↑ europarl.europa.eu : Proposal for a regulation of the European Parliament and of the Council on the establishment of a European supervisory authority for insurance and occupational pensions (COM (2009) 0502 - C7-0168 / 2009 - 2009/0143 (COD))
  9. ↑ Management Board. (No longer available online.) EIOPA, archived from the original on October 5, 2013 ; Retrieved October 2, 2013 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / eiopa.europa.eu

Coordinates: 50 ° 6 ′ 6.4 "  N , 8 ° 39 ′ 54.5"  E