The European Insurance and Occupational Pensions Authority (EIOPA) has published its Annual Report 2013.
2013 has marked the third year since the establishment of the European System of Financial Supervision (ESFS) and the foundation of EIOPA as part of this System. EIOPA continued to develop its role and profile within the European supervisory landscape. The Annual Report 2013 sets out EIOPA’s main achievements of meeting its strategic objectives related to the enhanced consumer protection; development of sound regulation; improved supervision; and timely identification and management of risks to financial stability. The publication also describes the work EIOPA has undertaken to ensure efficiency and effectiveness of its operation.
Gabriel Bernardino, Chairman of EIOPA, stated: “In all the major areas of our work we delivered important milestones during 2013. In our daily business we adhered to the corporate values of EIOPA. We acted independently and objectively. Our advices and reports were based on in depth analysis and research and benefited from transparent public consultation processes and specific discussions and input from our two stakeholder groups. Accountability and transparency have been the cornerstones of our relations with the external world”.
Carlos Montalvo, Executive Director of EIOPA, emphasised: “Going forward, three years since the ESFS’s creation, the time for reviewing the System is approaching. I therefore call upon the EU public institutions to seize this opportunity to make the operation of the ESFS more dynamic and efficient. EIOPA has proved to be successful, but we have much greater potential. The chance to improve the ESFS is one not to be missed!”
The full text of the Annual Report 2013 is available here.