An overview of the EU financial services supervisory framework
An overview of the EU financial services supervisory framework that formally came into effect on 1 January 2011. The framework is known as the European System of Financial Supervision (ESFS). It consists of:
- The European Systemic Risk Board (ESRB).
- The European Supervisory Authorities (ESAs) (that is, the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the European Insurance and Occupational Pensions Authority (EIOPA)).
- The Joint Committee of the ESAs.
- The 28 EU member state national supervisors.