EIOPA is governed by its Board of Supervisors , which brings together the relevant national authorities in insurance and occupational pensions in each Member State
The national supervisory authorities are sources of expertise and information on insurance and occupational pensions.
Conditions in national markets and the nature of financial institutions vary across the EU. The European System of Financial Supervision is an integrated network of national and European supervisory authorities that takes account of these differences. It takes care of supervision at the EU level, leaving day-to-day supervision to the national level.
Board of Supervisors
The Board of Supervisors is EIOPA’s main decision-making body. It comprises representatives of the relevant supervisory authority in each EU Member State. It also includes EIOPA’s Chairperson, several observers and representatives of:
- the European Commission
- the European Systemic Risk Board
- the European Banking Authority
- the European Securities Markets Authority
Management Board
Management Board ensures that EIOPA achieves its mission and completes the tasks assigned to it. It is composed of EIOPA’s Chairperson, six representatives of national supervisory authorities and a representative of the European Commission. The Management Board is elected for a term of two-and-a-half years, which can be extended once.