Colleges of supervisors

​​​​​​Colleges of Supervisors refer to multilateral groups of relevant supervisors that are formed for the collective purpose of enhancing efficient, effective and consistent supervision of financial institutions operating across borders.

The Colleges of Supervisors provide a platform for the gathering and dissemination of relevant or essential information in going concern and emergency situations, developing a common understanding of the risk profile of the groups, achieving coordination of supervisory review and risk assessment at a Group level as well as establishing supervisory plans for the mitigation of risks at Group level.

Financial turmoil has proven that the system of cooperation between national supervisory authorities was insufficient as regards financial institutions operating cross-border. Therefore, the EU Member States agreed to provide a legal responsibility for cooperation between supervisors involved in the supervision of groups; to improve the overall supervision of the groups and the use of supervisory resources; and to coordinate the requests from supervisors on the supervised groups.

For these purposes the European Supervisory Authorities and particularly EIOPA were empowered by the European law with full participation rights in Colleges of Supervisors with a view to streamlining the functioning and the information exchange in the colleges. (Article 21 of EIOPA’s Regulation).

As of 1 January 2011 EIOPA is a member of each college of insurance supervisors. EIOPA will participate in colleges as an active Member with the following main tasks:

  1. Contribute to promoting and monitoring the efficient, effective and consistent functioning of the Colleges
  2. Foster the coherence of application of the Union Law among Colleges
  3. With the objective of converging supervisory best practices, participate in activities of Colleges including on-site examinations, carried out jointly by two or more competent authorities
  4. Ensure a consistent and coherent functioning of Colleges of cross-border institutions across the European Union, taking into account of the systemic risk posed by financial institution

National Competent Authorities are responsible for the day-to-day supervision and the setting up of the Colleges of Supervisors and their functioning.

Since 2010 a yearly action plan for Colleges has been put in place.

Targets for EIOPA’s Action Plan on Colleges 2014, 2015 and 2016 are:

Action Plan 2015














Action Plan 2016














News

​08.10.2015EIOP​A updates its Action Plan 2016 and Way Forward for colleges of supervisors
​27.03.2015Coordination Arrangements signed for Colleges of supervisors of insurance groups with internal models: important step for the introduction of Solvency II  ​
​​​30.10.2014EIOPA publishes Action Plan 2015/16 for Colleges and a list of cross-border insurance groups for which a College is in place
09.10.2013EIOPA publishes Action Plan 2014/15 for Colleges and a list of cross-border insurance groups for which a College is in place
13.02.2012EIOPA publishes its Action Plan 2012 for Colleges of Supervisors
01.04.2010Report on Functioning of Colleges – CEIOPS provides clear evidence of improvement in supervisory cooperation
16.02.2009CEIOPS’ 2009 Report on the Functioning of the Coordination Commettees
27.01.2009Joint press release on ten common principles for colleges of supervisors

​List of participants in the colleges

​12.2016EIOPA 2016 list of groups for which a College of supervisors is in place​​
​​01.2016​EIOPA 2015 list of groups for which a College of supervisors is in place​
​​​10.2014EIOPA 2014 list of groups for which a College of supervisors is in place
10.2013EIOPA 2013 list of groups for which a College of supervisors is in place
02.2012EIOPA 2012 list of groups for which a College of supervisors is in place
02.2010Insurance groups and the EEA supervisory authorities that participate in the respective colleges of supervisors in 2010

Most relevant SII Guidelines and Technical Standards for group supervision

​02.2016​Commission Implementing Regulation (EU) 2015/2014 of 11 November 2015 laying down implementing technical standards with regard to the procedures and templates for the submission of information to the group supervisor and for the exchange of information between supervisory authorities in accordance with Solvency II Directive​
​09.2015

Guidelines on the exchange of information within colleges​​

​​02.2015​Guidelines on operational functioning of colleges​
​02.2015​Guidelines on group solvency
​02.2015Guidelines on the use of internal models​
12.2014​​Joint Guidelines on the convergence of supervisory practices relating to the consistency of supervisory coordination arrangements for financial conglomerates​

​Other publications

​​08.10.2016Year-end report 2015 on functioning of Colleges and Accomplishments of Action Plan
​08.10.2015

Updated Action Plan 2016 and Way Forward for Colleges of Supervisors​

​20.02.2015Year-end report on Functioning of Colleges and Accomplishments of Action Plan 2014
Annex 1: Accomplishment of EIOPA Action plan 2014 criteria 
​​​31.10.2014​​Final report on a consultation guidelines colleges
​30.10.2014EIOPA's Action Plan 2015/2016 for Colleges of Supervisors
13.02.2014Report on the Functioning of Colleges and the Accomplishments of the 2013 Action Plan
09.10.2013EIOPA’s Action Plan 2014/2015 for Colleges
29.01.2013Report on the Functioning of Colleges and the Accomplishments of the 2012 Action Plan
29.01.2013EIOPA’s Action Plan 2013 for Colleges
​21.09.2012Memorandum of Understanding (MoU) between the European Insurance and Occupational Pensions Authority (EIOPA) and the Swiss Financial Market Supervisory Authority (FINMA) 
13.02.2012EIOPA’s Action Plan for Colleges 2012
13.02.2012Report on the Functioning of Colleges and the Accomplishments of the 2011 Action Plan
31.03.2011Final Report on the Functioning of Colleges of Supervisors in 2010 and Targets 2011
11.2010Report on the Functioning of the Colleges of Supervisors
02.2010Insurance groups and the EEA supervisory authorities that participate in the respective colleges of supervisors in 2010
02.2009Report on the functioning of coordination committees 2009
27.01.2009Colleges of Supervisors – 10 Common Principles
11.2007Report on the functioning of coordination committees since 2004
11.2007Guidelines on information exchange between lead supervisors and other competent authorities
12.2006Statement on the role of the lead supervisors
05.2005​Guidelines for Coordination Committees and its annexes

Part 1Part 2Part 3
05.2000Protocol relating to the collaboration of the supervisory authorities of the Member States of the European Union with regard to the application of Directive 98/78/EC on the supplementary supervision of insurance undertakings in an insurance group (‘Helsinki’ Protocol)