NFU News

EU Commission considers merger of Supervisory Authorities

The European Commission is considering merging the European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA) in to one institution. This was announced by Vladis Dombrovskis, Vice-President of the EU Commission, at a press conference in March.

EBA is currently located in London and will have to move when the UK leaves the European Union. If the merger becomes reality, it is possible that the new supervisory authority will be located in Frankfurt, where EIOPA is residing today.

The European Commission has launched a public consultation on the issue. The deadline to respond is 16 May 2017.

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