Database on German and European Economic Law

 Decision 2009/77/EC

I. Description

Financial systems in the Community are closely linked and events in one Member State can have a significant impact on financial institutions and markets in other Member States. The continuing emergence of financial conglomerates and the blurring of distinctions between the activities of firms in the banking, securities and insurance sectors give rise to additional supervisory challenges at national and Community level. In order to
safeguard financial stability, a system is needed at the level of the Committee, the Committee of European Banking Supervisors and the   Committee of European Insurance and Occupational Pensions Supervisors in order to identify potential risks, across borders and across sectors, at an early stage and, where necessary, inform the Commission and the other Committees. Furthermore, it is essential that the Committee  ensures that finance ministries and national central banks of the Member States are informed. The Committee has its role to play in this respect by identifying risks in the securities sectors and regularly reporting on the outcome to the Commission. The Council should also be informed of these assessments. The Committee should also cooperate with the European Parliament and provide it with periodic information on the situation in the securities sector. The Committee should not, in this context, disclose information on individual supervised entities.

II. General Information

Title

Commission Decision of 23 January 2009 establishing the Committee of European Insurance and Occupational Pensions Supervisors

Status
Repealed
Decision
2009/77/EC
Source
O.J. EC No L (Legislation), Edition 25, Year 2009, p.18 - 22
Adoption
01/23/2009
Promulgation
01/29/2009
Background

III. Versions and Legislative History

1. Versions

Titel
Allg. Daten
Textfassung

Original Text :
Commission Decision of 23 January 2009 establishing the Committee of European Insurance and Occupational Pensions Supervisors

  2009/77/EC

Beschluss:
01/23/2009 (A)
Verkuendung:
01/29/2009 (P)
(A) Adoption | (P) Promulgation

Legend

Legislative Act Status

Documents

This page is available in other languages.

Admin Navigation

Diese Seite durchsuchen

Overview

I. Description
II. General Information
III. Versions and Legislative History
1. Versions