Prepare draft technical standards as preparatory work for non-legislative acts of general application to supplement or amend certain non-essential elements of the legislative act or where uniform conditions for implementing legally binding Union acts are needed.

Establish or ensure the functioning of the internal market, in accordance with the relevant provisions of the Treaties.

(Articles 26, 114, 290, 291 of the Treaty on the Functioning of the European Union)

Areas of Union competence deriving from the Treaty

to take over, as appropriate, all existing and ongoing tasks from the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS).

to publish on its website, and to update regularly, information relating to its field of activities,

to fulfil any other specific tasks set out in this Regulation or in other legislative acts,

to contribute to the consistent and coherent functioning of colleges of supervisors, the monitoring, assessment and measurement of systemic risk, the development and coordination of recovery and resolution plans, providing a high level of protection to policy holders, to beneficiaries and throughout the Union,

to foster the protection of policyholders, pension scheme members and beneficiaries,

to undertake economic analyses of markets to inform the discharge of the Authority’s functions,

to monitor and assess market developments in the area of its competences,

to organise and conduct peer review analyses of competent authorities,

to cooperate closely with the ESRB,

to contribute to the consistent application of legally binding Union acts, to stimulate and facilitate the delegation of tasks and responsibilities among competent authorities,

To contribute to the establishment of high-quality common regulatory and supervisory standards and practices,

Protect the public interest by contributing to the short, medium and long-term stability and effectiveness of the financial system, for the Union economy, its citizens and businesses.

(Regulation (EU) No 1094/2010 of the European Parliament and of the Council establishing the Authority, Articles 1(6) and Article 8 on tasks and powers)

European Parliament acting on a recommendation from the Council.

To oversee and assess appropriate implementation of the internal procedures and decisions.

The Authority’s Alternate Chairperson (chair) and two Members of the Management Board. The Executive Director participates as observer.

Is in charge of the management of the Authority and the implementation of the annual work programme and the budget; prepares the work of the Management Board, the budget, the work programme.

Represents the Authority, prepares the work of the Board of Supervisors (BoS), chairs the BoS and MB meetings.

The MB shall ensure that the Authority carries out its mission and performs the tasks assigned to it in accordance with Regulation (EU) No 1094/2010.

Chairperson of the Authority (voting), six Voting Members of the BoS (voting), one representative of the European Commission (voting for budget issues). The Executive Director shall participate in meetings of the MB without the right to vote.

Chairperson (non-voting), the head of the national public authority competent for the supervision of financial institutions in each Member State (one voting member per Member State), one representative of the Commission (non-voting), of the European Systemic Risk Board (non-voting), the European Banking Authority, the European Securities Markets Authority (both non-voting); observers may be permitted and the Executive Director may participate in meetings (non-voting).

(Regulation (EU) No 1094/2010 establishing the Authority: Articles 40-44: Board of Supervisors; Articles 45-47: Management Board; Articles 48-50: Chair; Articles 51-53: Executive Director)

Seconded National Expert posts: 21 (12) planned in the budget, of which occupied: 14 (11)

Statutory staff: 87 (80) posts authorised in the establishment plan, of which occupied: 87 (80)

Resources made available to the Authority in 2014 (2013)

Products and services in 2014