The Committee of European Banking Supervisors (CEBS), the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) and the Committee of European Securities Regulators (CESR) signed a joint protocol to foster co-operation and coordination in the areas of regulation, policy, information exchange and other tasks with a common interest. The purpose of the Joint Protocol will be to build further on this cooperation by formalising the relationship between the Committees in a transparent manner.
The practical objectives of the joint protocol are to:
share information in order to ensure compatible sector approaches are developed;
exchange experiences which can facilitate supervisors’ ability to cooperate;
produce joint work or reports to relevant EU Institutions and Committees;
reduce supervisory burdens and streamlining processes; and
ensure the basic functioning of the three Committees develops along parallel lines.
The co-ordination and co-operation will be based on practical arrangements included in the joint protocol to support consistency between the Committees. The protocol defines the basic procedures for meetings and contacts, access to information, as well as indicating the areas of joint work anticipated and the way in which the dialogue between the Committees will take place to ensure new developments are taken into consideration.
From 2006 the Committees will therefore start to adopt a yearly work programme to serve as a basis for common work and co-operation.
Joint Protocol
Press release
© CESR - Committee of European Securities Regulators
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article