in force 2020-01-01 MODIFIED+885 −188§
Amended by Regulation (EU) 2019/2175 32019R2175
applies from: unchanged
Paragraph 1 changes from describing the Board of Appeal as a joint body of the ESAs to stating that the Board of Appeal of the European Supervisory Authorities is hereby established.
Paragraph 2 adds requirements on knowledge of Union law, international professional experience, nationality of a Member State, and knowledge of at least two official Union languages, extends the exclusion to members and bodies involved in the Authority's activities and to members of the Insurance and Reinsurance Stakeholder Group and the Occupational Pensions Stakeholder Group, and adds proportionality to the legal expertise the Board must be able to advise on.
Paragraph 3 replaces the term "short-list" with "shortlist" and adds two new subparagraphs giving the European Parliament the possibility to invite shortlisted candidates, and separately the members of the Board of Appeal, to make statements and answer questions, excluding matters pertaining to individual cases decided by or pending before the Board.
Cited: Art. 58, v1 · Art. 58, v2
text before / after
02010R1094-20140523 → 02010R1094-20200101
Article 58
Composition and operation
1. The Board of Appeal shall be a joint body of the ESAs. European Supervisory Authorities is hereby established.
2. The Board of Appeal shall be composed of six members and six alternates, who shall be individuals of a high repute with a proven record of relevant knowledge of Union law and of having international professional experience, including supervisory experience, to a sufficiently high level in the fields of banking, insurance, occupational pensions, securities markets or other financial services, excluding current staff of the competent authorities or other national or Union institutions or bodies involved in the activities of the Authority. Authority and members of the Insurance and Reinsurance Stakeholder Group and members of the Occupational Pensions Stakeholder Group. Members and alternates shall be nationals of a Member State and shall have a thorough knowledge of at least two official languages of the Union. The Board of Appeal shall have sufficient legal expertise to provide expert legal advice on the legality legality, including proportionality, of the Authority’s exercise of its powers.
The Board of Appeal shall designate its President.
3. Two members of the Board of Appeal and two alternates shall be appointed by the Management Board of the Authority from a short-list shortlist proposed by the Commission, following a public call for expressions of interest published in the Official Journal of the European Union, and after consultation of the Board of Supervisors.
After having received the shortlist, the European Parliament may invite candidates for members and alternates to make a statement before it and answer any questions from its Members.
The other European Parliament may invite the members shall be appointed in accordance with Regulation (EU) No 1093/2010 of the Board of Appeal to make a statement before it and Regulation (EU) No 1095/2010. answer any questions from its Members whenever so requested, to the exclusion of statements, questions or answers pertaining to individual cases decided by, or pending before, the Board of Appeal.
4. The term of office of the members of the Board of Appeal shall be 5 years. That term may be extended once.
5. A member of the Board of Appeal appointed by the Management Board of the Authority shall not be removed during his term of office unless he has been found guilty of serious misconduct and the Management Board takes a decision to that effect after consulting the Board of Supervisors.
6. The decisions of the Board of Appeal shall be adopted on the basis of a majority of at least four of its six members. Where the appealed decision falls within the scope of this Regulation, the deciding majority shall include at least one of the two members of the Board of Appeal appointed by the Authority.
7. The Board of Appeal shall be convened by its President when necessary.
8. The ESAs shall ensure adequate operational and secretarial support for the Board of Appeal through the Joint Committee.