News

Operational since 2011, the objective of the European System of Financial Supervision and its three authorities is to improve the functioning of the internal market by ensuring appropriate, efficient and harmonised European supervision.

Over the summer and autumn the three European supervisory authorities have reappointed their four stakeholder groups. In these stakeholder groups, seats are reserved for consumer representatives, users of financial services, financial market participants, financial institution employees, small and medium sized enterprises and academics.

Under the heading ‘employees’ five UNI Europa Finance affiliates have been selected, spread across three stakeholder groups.

European Banking Authority (EBA)

Banking Stakeholder Group (BSG)

·     Ute Meyenberg (UNI Europa Finance)

·     Jesper Bo Nielsen (FSU/Denmark)

European Insurance and Occupational Pensions Authority (EIOPA)

Insurance and Reinsurance Stakeholder Group (IRSG)

·     Damien Lagaude (FdS-CFDT/France)

European Securities and Markets Authority (ESMA)

Securities and Markets Stakeholder Group (SMSG)

·     Chris Vervliet (LBC-NVK, Belgium)

·     Zsolt Nagygyörgy (BBDSZ, Hungary)

The selection is a clear improvement in numbers and shows good progress. However, in the European Ombudsman's reply to the EBA complaint we filed in 2011 regarding the selection under the employee heading for the EBA-BSG, it states that "balanced proportions" should mean at least three seats for the employee category.  (To add is that in the EIOPA-IRSG an additional employee representative has been selected and in the EIOPA-OPSG five representatives, however these are not representing a UNI Europa Finance affiliate.)

UNI Europa is still awaiting the Ombudsman’s reply to the similar complaint filed against ESMA.

More information in the UNI Europa press release UNI Europa welcomes European Ombudsman’s move over European Banking Authority’s Stakeholder Group