MIL-OSI Europe: ESAs Board of Appeal renews President’s term and elects Vice-President

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Source: European Banking Authority

During the Board of Appeal Annual Meeting on 13 June 2024, the three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) renewed the President and elected the Vice-President of the Board of Appeal, for a term of 2.5 years.

Michele Siri, Professor of Insurance and Financial Markets Law, University of Genoa, Italy, was renewed as Board of Appeal’s President and Margarida Lima Rego, Associate Professor and Vice-Dean at NOVA School of Law, NOVA University, Portugal, was appointed as Board of Appeal’s Vice-President.

The President and Vice-President are designated among the Board of Appeal’s members. The President’s role is to direct the business and the administration of the Board of Appeal, while the Vice-President will perform the functions of the President in the event of the incapacity of the President or other exceptional reasons.

The Board of Appeal is composed of six members and six alternates, appointed by the ESAs. 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.

The Board of Appeal is a joint body of the ESAs, introduced to protect effectively the rights of parties affected by decisions adopted by the ESAs. It is an independent and impartial body, responsible for deciding on appeals against certain ESA decisions.

More information on the Board of Appeal is available here.

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