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The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) was established pursuant to the European Commission's Decision 2004/6/EC of 5 November 2003. This decision was repealed and replaced by Decision 2009/79/EC, which includes some further provisions regarding the role of CEIOPS as the Level 3 Committee for the insurance, reinsurance and occupational pensions sectors. The new Decision took effect on 29 January 2009 (date of its publication in the Official Journal of the European Union). At its meeting on 4 February 2004, CEIOPS endorsed the decision taken by the ECOFIN on 20 January 2004 to locate CEIOPS in Frankfurt am Main, Germany. The Committee was formally established on 28 May 2004 as "CEIOPS e.V." ("eingetragener Verein"), a private non-profit organisation under German law. CEIOPS Secretariat took up it's work in July 2004. CEIOPS' Articles of Association lay down the purpose of the Association and the rules regarding membership, structure, decision making and other procedures. The By-Laws adopted by the Managing Board cover the rules on its composition, the election of its members, the conduct of its meetings, the description of duties, the decision making procedure and the implementation of Resolutions as well as the tasks and composition of the Secretariat. On 26 January 2009, the European Commission has published its proposal for a Decision of the European Parliament and of the Council establishing a community programme to support specific activities in the field of financial services, financial reporting and auditing. It envisages providing direct funding for training and IT related projects from the Community budget to the 3L3 Committees and to key international and European bodies involved in the standard setting process for financial reporting and auditing over period 2010-2013. The proposal will follow the co-decision procedure with a view to adoption by the European Parliament and Council.
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Decision of European Commission