Regulatory Alerts2023-05-11
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EIOPA Colleges of Supervisors – 10 Common Principles
The document establishes ten common principles governing the functioning of colleges of supervisors for cross-border groups. These principles build upon earlier frameworks established in 2009 by the predecessor bodies CEIOPS and CEBS to enhance cooperation among supervisory authorities. The guidelines apply to the European Insurance and Occupational Pensions Authority (EIOPA) and the European Banking Authority (EBA) in their oversight of cross-border financial groups.
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The EIOPA Colleges of Supervisors - 10 Common Principles provides for ten common principles for the functioning of colleges of supervisors.
Published: 11 May 2023
EIOPA[1] and EBA[2] have as one of their tasks to actively improve the cooperation among the various supervisory authorities involved in the supervision of cross-border groups by means of so-termed colleges of supervisors.
As early as in 2009, CEIOPS and CEBS, the predecessors to EIOPA and EBA, had already established common principles for the functioning of colleges of supervisors.
[1] The European Insurance and Occupational Pensions Authority (EIOPA) has officially come into being as of 1 January 2011 and has taken over all existing and ongoing tasks and responsibilities from the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS). [2] The European Banking Authority (EBA) has officially come into being as of 1 January 2011 and has taken over all existing and ongoing tasks and responsibilities from the Committee of European Banking Supervisors (CEBS).
Downloads
Guideline 2005/68/EG (Refers to an external site)
EIOPA 10 principles colleges supervisors (Refers to an external site)
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