On 5th November 2003, the European Commission adopted the Decision establishing the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS).
The Commission Decision entered into force on 24th November 2003. The first meeting of the new Bureau (the Board) of the new committee was held on Tuesday 25 November. At the meeting the charter for the committee was adopted.
The CEIOPS will fulfil the functions of Level 3 Committee for the sector of Insurance and Occupational Pensions in application of the 'Lamfalussy' Process.
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