EUROPE - The European Insurance and Occupational Pensions Authority (EIOPA) has appointed Gabriel Bernardino as its inaugural chairman.
Bernardino, who is currently director general of the Directorate for Development and Institutional Relations at the Instituto de Seguros de Portugal (ISP), was elected by the Board of Supervisors of EIOPA.
His nomination follows pre-selection by the European Commission and is subject to confirmation by the European Parliament. Bernardino represented EIOPA's predecessor, CEIOPS, as chairman between October 2009 and December 2010.
EIOPA's official launch earlier this week made it the first of three new European Supervisory Authorities (ESAs) set up by the European Commission in 2009 as a result of reforms to financial supervision in the EU. (Global Pensions: 10 January 2010).
It will act as an independent advisory body to the European Parliament, the Council of the European Union and the European Commission. Its core objectives are to support the stability of the financial system, transparency of markets and financial products as well as the protection of insurance policyholders, pension scheme members and beneficiaries.
Bernardino will act as chairman for a five year term, which can be extended once.
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