The European Parliament has endorsed Gabriel Bernardino for a second term as chairman of the European Insurance and Occupational Pensions Authority.
In a statement released following a vote by the parliament’s economic and monetary affairs committee, Bernardino said he was thankful for the trust of both the parliamentarians and EIOPA’s board of supervisors, which in October extended his term until 2021. “In the past five years,” Bernardino added, “EIOPA has grown into an entity with a strong voice and has been a driving force in regulatory convergence.” He said EIOPA’s next journey would be to deliver a “strategic shift from regulation to supervision” and to focus on consumer protection and the financial stability of the EU.
He also offered a glimpse of his second term’s focus, proposing the development of a framework for cross-border occupational defined contribution. The chairman has also repeatedly called for an overhaul of EIOPA’s funding model and, according to officials at the European Commission, is likely to reveal details of a new funding model early next year.
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