The following Financial Services guidance note provides comprehensive and up to date legal information covering:
The Joint Board of Appeal of the European Supervisory Authorities (Board of Appeal) is a joint body of the European Supervisory Authorities (Authorities), namely:
European Banking Authority (EBA)
European Insurance and Occupational Pensions Authority (EIOPA)
European Securities and Markets Authority (ESMA)
For more information on the Authorities, see Practice Note: Relationship between UK and EU regulators and Lexis®PSL Banking & Finance Practice Note: Relationship between UK and EU regulators—European Supervisory Authorities.
The Board of Appeal reviews complaints brought against the decisions of the Authorities. Its decisions are subject to appeal before the Court of Justice of the European Union (CJEU). Current staff of the national competent authorities, or other national or EU institutions involved in the activities of the Authorities, are not eligible for service on the Board of Appeal. The Board of Appeal is composed of six members and six alternates. The members are individuals with experience in the fields of banking, insurance, occupational pensions and securities markets or other financial services, and with the legal expertise necessary to consider legal issues with respect to the activities of the Authorities. The President is Sir William Blair, a British QC and High Court judge, elected in 2012 for a two and a half year term.
The Board of Appeal was established under the Regulations which established the Authorities themselves, but is independent of the Authorities. Each of the Regulations is in essentially the same form (Regulation (EU) 1093/2010, Regulation (EU) 1094/2010, and Regulation (EU) 1095/2010). The Board of Appeal has adopted rules of procedure which govern the appeals process.
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