European Insurance and Occupational Pensions Authority

European Insurance and Occupational Pensions Authority
Agency overview
Formed	January 1, 2011 (2011-01-01)
Preceding agency	Committee of Insurance and Occupational Pensions Regulators (CEBS)
Jurisdiction	European Union
Headquarters	Frankfurt am Main
Agency executive	Gabriel Bernardino, Chair
Key document	Regulation (EU) No 1094/2010
Website
eiopa.europa.eu

The European Insurance and Occupational Pensions Authority is a European Union financial regulatory institution that replaced the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS). It is established under EU Regulation 1094/2010.

Background

CEIOPS (2003-2010) was established under the terms of European Commission's Decision 2004/6/EC of 5 November 2003, currently repealed and replaced by Decision 2009/79/EC, and is composed of high level representatives from the insurance and occupational pensions supervisory authorities of the European Union's Member States. The authorities of the European Economic Area Member States also participate in CEIOPS. CEIOPS Secretariat was located in Frankfurt am Main. CEIOPS was a Level-3 Committee of the European Union in the Lamfalussy process. CEIOPS was founded 05 November 2003. CEIOPS consists of the European Union's insurance and pension fund supervisory authorities. Other supervisory authorities from other states of the European Economic Area are represented as observers (Norway, Iceland and Liechtenstein, although not Switzerland). It was chaired by Gabriel Bernardino, the Director General of the Instituto de Seguros de Portugal (ISP). CEIOPS' headquarters are located in Frankfurt am Main, Germany. The other Level-3 Committees were Committee of European Banking Supervisors and Committee of European Securities Regulators.

CEIOPS was replaced by EIOPA in January 2011,^[1] in acordance with the new European financial supervision framework. The reorganisation of macro and microprudential supervisory authorities led to the creation of three new European watchdogs ( The European Banking Authority EBA, the European Insurance and Occupational Pensions Authority -EIOPA, and the European Securities and Markets Authority -ESMA) have replaced the previous EU committees responsible for financial market services, having had only consultative competences.

Overview

See also

• European System of Financial Supervisors
• European Banking Authority
• European Securities and Markets Authority
• European Systemic Risk Board
• Lamfalussy process
• Financial regulation
• European Commissioner for Internal Market and Services

Notes

1. ^ European supervisory authorities: time for implementation!, by the Europeans for Financial Reform, January 5 2010

External links

• CEIOPS Homepage

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