Skip to main content



Search form

Board of Appeal

Board of Appeal

The Board of Appeal is a joint body of the European Supervisory Authorities (ESAs), introduced to effectively protect the rights of parties affected by decisions adopted by the Authorities.

Although its secretariat is supported by the Authorities, and the Board of Appeal is part of the Authorities, in reaching its decisions it is fully independent.

Board of Appeal - generic image Board of Appeal


Articles 58 and 59 of the EBA, EIOPA and ESMA Regulations (the ESAs’ Regulations) provide for the establishment of an independent and impartial Board of Appeal of the three Authorities.

The Board is responsible for deciding on appeals against certain decisions of the Authorities according to Article 60 of the ESAs’ 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 ESAs’ Regulations and specific sectorial legislation.

Under Article 58(8) of the ESAs’ 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 ESAs’ Regulations.


Members and alternates of the Board of Appeal

The Board of Appeal is composed of six members and six alternates, who were appointed by EBA, ESMA and EIOPA, as required by the ESAs’ 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.

The Board of Appeal elected Michele Siri as President, in accordance with the ESAs’ Regulations.

During the second meeting of the new composition of the Board of Appeal, Christos Gortsos was appointed Vice-President of the Board of Appeal.

Rules of procedure

In accordance with Article 60(6) of the ESAs’ Regulations, the Board of Appeal has adopted Rules of Procedure which govern the bringing and conduct of an appeal.

Bringing an appeal

The full appeal process may be found in the Rules of Procedure. Furthermore, there are Guidelines to the Parties to Appeal Proceedings before the Board of Appeal, and an indicative form for a Notice of Appeal. Legal articles quoted in the text below are from the ESAs’ Regulations, or the Board of Appeal Rules of Procedure.

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) of the ESAs’ Regulations

How to file an appeal?

Prospective Appellants should carefully review Article 60 of the ESAs’ Regulations and the Rules of Procedure of the Board of Appeal, particularly Article 5 and 7, to make sure the appeal is filed in time.

“The appeal, together with a statement of grounds, shall be filed in writing at the Authority within three months of the date of notification of the decision to the person concerned, or, in the absence of a notification, of the day on which the Authority published its decision.”

— Article 60 (2) of the ESAs’ Regulations

“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 identifying the decision of the Authority [which is] the subject of the appeal.”

— Article 5 of the Rules of Procedure of the Board of Appeal

The Notice of Appeal shall be filed at the Authority against whose decision the party appeals. The Notice should be submitted to the Chairperson of the relevant Authority (addresses provided below), indicating “confidential” on all correspondence.

Copying the Secretariat

The Notice of Appeal should also be copied in hard form and by email to the Authority in charge of the Secretariat of the Board of Appeal for the current year.

Since no Authority can administer an appeal filed against its own acts (Article 4 of the Rules of Procedure of the Board of Appeal), if the appeal is brought against the Authority which provides the Secretariat in that year, the Notice of Appeal should be copied in hard form and by email to the Authority which provides the Secretariat for the following year.

The Secretariat of the Board of Appeal rotates every year, as indicated below:



European Securities and Markets Authority (ESMA)

201-203 rue de Bercy, 75012 Paris - France




European Insurance and Occupational Pensions Authority (EIOPA)

Westhafenplatz 1, 60327 Frankfurt – Germany




European Banking Authority (EBA)

EUROPLAZA, 20 Avenue André Prothin, 92927 Paris La Défense – France