Board of Appeal
The Board of Appeal is a joint body of the European Supervisory Authorities (EBA, EIOPA, ESMA). It has been introduced to protect effectively the rights of parties affected by decisions adopted by the Authorities. The decisions of the Board of Appeal are subject to appeal before the Court of Justice of the European Union. Although its secretariat is provided by the Authorities, the Board of Appeal is fully independent.
The establishment of the Board of Appeal
Articles 58 and 59 of the EBA, EIOPA and ESMA Regulations (the Regulations) [footnote to the Regulations] provide for the establishment of an independent and impartial Board of Appeal of the three ESAs.
The Board is responsible for deciding on appeals against certain decisions of the Authorities according to Article 60 of the Regulations.
The decisions of the Board of Appeal can themselves be appealed to the Court of Justice of the European Union, as set out under Article 61 of the Regulations.
Under Article 58(8) of the Regulations, the Authorities provide operational and secretarial support to the Board of Appeal through the Joint Committee, a body which is also established by the regulations.
Composition
The Board of Appeal is composed of six members and six alternates , who were appointed by EBA, ESMA and EIOPA respectively in 2011, as required by the Regulations.
The members are individuals with a proven track record of professional experience in the fields of banking, insurance, occupational pensions and securities markets or other financial services, and with the necessary legal expertise to provide expert legal advice in relation to the activities of the Authorities.
Current staff of the national competent authorities, or other national, or Union institutions involved in the activities of the ESAs are not eligible for service on the Board of Appeal.
In 2012, the Board of Appeal elected William Blair as President and Juan Fernández-Armesto as Vice-President, in accordance with the Regulations.
Rules of procedure
In accordance with Article 60(6) of the Regulations, the Board of Appeal has adopted Rules of Procedure which govern the bringing and conduct of an appeal.
Bringing an appeal
There are Guidelines for parties who want to appeal proceedings to the Board of Appeal, and an indicative form for a Notice of Appeal.
Lodging an appeal
Legal articles quoted in the text below are from the Regulations, unless otherwise indicated [footnote to the regulations’ references].
Who is entitled to file an appeal?
“Any natural or legal person, including competent authorities, may appeal against a decision of the Authority referred to in Articles 17, 18 and 19 and any other decision taken by the Authority in accordance with the Union acts referred to in Article 1(2) which is addressed to that person, or against a decision which, although in the form of a decision addressed to another person, is of direct and individual concern to that person.” (Article 60 (1)).
How to file an appeal?
As per Article 5 of the Rules of Procedure of the Board of Appeal, a “party wishing to bring an appeal against a decision of the Authority under Article 60 of the ESAs’ Regulations shall do so by way of a Notice of Appeal [link] identifying the decision of the Authority which is potentially subject to appeal.”
The notice of appeal should be sent to the following address:
EBA:
EBA – Board of Appeal
Tower 42 (level 18)
25 Old Broad Street
London EC2N 1HQ
United Kingdom
EIOPA:
EIOPA- Board of Appeal
Westhafenplatz 1
60327 Frankfurt am Main
Germany
ESMA:
ESMA – Board of Appeal, indicating “confidential”
103 rue de Grenelle
75007 Paris
France
The full appeal process may be found under the Rules of Procedure
Under Article 61 of the Regulations, an appeal lies to the Court of Justice of the European Union.
Contact: Secretariat of the ESAs’ Joint Committee:
boardofappeal@eiopa.europa.eu (cc: boardofappeal@eba.europa.eu, boardofappeal@esma.europa.eu)
+49 (69) 95 111 9335
