Commission Decision of 23 January 2009 establishing the Committee of European Insurance and Occupational Pensions Supervisors (Text with EEA relevance) (2009/79/EC) (repealed)

Article 4

1. The Committee shall enhance cooperation between national supervisory authorities in the insurance, reinsurance and occupational pensions fields and foster the convergence of Member States’ supervisory practices and approaches throughout the Community. To this effect, it shall carry out, at least, the following tasks:

(a) mediate or facilitate mediation between supervisory authorities in cases specified in the relevant legislation or at the request of a supervisory authority;

(b) provide opinions to supervisory authorities in cases specified in the relevant legislation or at their request;

(c) promote the effective bilateral and multilateral exchange of information between supervisory authorities subject to applicable confidentiality provisions;

(d) facilitate the delegation of tasks between supervisory authorities, in particular by identifying tasks which can be delegated and by promoting best practices;

(e) contribute to ensuring the efficient and consistent functioning of colleges of supervisors in particular through setting guidelines for the operational functioning of colleges, monitoring the coherence of the practices of the different colleges and sharing best practices;

(f) contribute to developing high quality and common supervisory reporting standards;

(g) review the practical application of the non-binding guidelines, recommendations and standards issued by the Committee.

2. The Committee shall review the Member States’ supervisory practices and assess their convergence on an ongoing basis. The Committee shall report annually on progress achieved and identify the remaining obstacles.

3. The Committee shall develop new practical convergence tools to promote the common supervisory approaches.