The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) is the Level 3 Committee for the insurance and occupational pensions sectors under the so called "Lamfalussy Process".  

CEIOPS is composed of high level representatives from the insurance and occupational pensions supervisory authorities of the European Union Member States. The authorities of the Member States of the European Economic Area (Norway, Iceland and Liechtenstein) and the European Commission participate in CEIOPS' activities as observers.

CEIOPS is involved in both Level 2 and 3 Lamfalussy activities by:

• providing advice to the European Commission on drafting of implementation measures for framework directives and regulations on insurance and occupational pensions ("Level 2 activities"), and
• issuing supervisory standards, recommendations and guidelines to enhance convergent and effective application of the regulations and to facilitate cooperation between national supervisors ("Level 3 activities")

Consequently, CEIOPS is currently:

• advising the Commission, either at the Commission's request or on the Committee's own initiative, in particular on the preparation of draft implementing measures in the fields of insurance, reinsurance and occupational pensions;
• contributing to the consistent implementation of EU Directives and to the convergence of Member States' supervisory practices throughout the Community;
• acting as a forum for supervisory co-operation, including the exchange of information on supervised institutions;
• dealing with convergence in the supervision of insurance companies and occupational pension funds.

Cross-sector cooperation with its sister Committees, CEBS and CESR, is another important item on CEIOPS' agenda. CEBS and CESR were established under the same procedural framework in the banking and securities market, respectively. Together, all three Committees are know, and operate jointly in all areas with cross-sector relevance, as the 3 Level 3 Committees.

The role also involves the participation of CEIOPS in the work of different European institutions with responsibilities for issues relating to insurance and occupational pensions, in particular the Economic and Financial Committee (EFC) and the Financial Services Committee (FSC).

Accountability, consultation and transparency are the key aspects of CEIOPS' functioning in line with the Lamfalussy process and the achievement of the EU policy goals for financial services.

As an independent Committee, CEIOPS is committed to ensure to policy makers and other stakeholders openness and accountability on its positions and work programme in a number of ways. Not only does CEIOPS report regularly to the European Commission and the European Parliament, it also publishes all issued documents (submissions to the EC, reports, drafts, comments and others) on its web site. CEIOPS also ensures its accountability by cooperating closely with other EU Institutional bodies dealing with financial services, such as the Economic and Financial Committee (EFC), the Financial Services Committee (FSC), the European Insurance and Occupational Pensions Committee (EIOPC) and the other "Level 3 Committees" (CEBS and CESR) in order to converge approaches on aspects of common interest.

Finally, the creation of a robust regulatory framework for supervision and the adoption of effective supervisory practices, rely not only on a wide sharing of regulatory and supervisory policy but also on a clear and complete knowledge of market situation and needs. CEIOPS therefore seeks input and inspiration during public consultation processes, from market participants, consumers, end users and any other interested external parties, on the preparation of its advices to the European Commission and the drafting of its own recommendations, guidelines and standards. CEIOPS' consultation policy is set out in its Statement of Consultation Practices.

CEIOPS' institutional bodies are the Members' Meeting, which includes all CEIOPS' Members and Observers, the Managing Board, chaired presently by Thomas Steffen, and the Secretariat, located in Frankfurt am Main. CEIOPS' work programme and activities are monitored by the Consultative Panel, which also acts as a "sounding" board to support CEIOPS' policy-making process.

CEIOPS' operational organisation depends on its work programme. To fulfil its tasks CEIOPS establishes Working Groups, either working on areas identified by terms of reference on a longer term, or carrying out tasks under a specific mandate.

Founding texts

Members and Observers

Organisation

Work in Progress