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The Joint Committee is a forum for cooperation that was established on 1st January 2011, with the goal of strengthening cooperation between the European Banking Authority (EBA), European Securities and Markets Authority (ESMA) and European Insurance and Occupational Pensions Authority (EIOPA), collectively known as the three European Supervisory Authorities (ESAs).
Through the Joint Committee, the three ESAs cooperate regularly and closely and ensure consistency in their practices. In particular, the Joint Committee works in the areas of supervision of financial conglomerates, accounting and auditing, micro-prudential analyses of cross-sectoral developments, risks and vulnerabilities for financial stability, retail investment products and measures combating money laundering.
In addition to being a forum for cooperation, the Joint Committee also plays an important role in the exchange of information with the European Systemic Risk Board (ESRB) and in developing the relationship between the ESRB and the ESAs.
The initiative follows on from the first Joint ESAs Consumer Protection Day which took place in June 2013 in Paris and will support the goal of the "Joint Committee" of strengthening cooperation and ensuring cross-sectoral consistency between the ESAs in their work on consumer and investor protection, a common statutory objective of the three Authorities (the European Banking Authority – EBA, the European Insurance and Occupational Pensions Authority – EIOPA and the European Securities and Markets Authority ESMA).