The European Insurance and Occupational Pensions Authority (EIOPA) has gone live, Professional Pensions reports. The authority will serve as an independent advisory body to the European Parliament, the Council of the European Union and the European Commission. Its main objectives are to support the stability of the financial system, transparency of markets and financial products and the protection of insurance policyholders, pension scheme members and beneficiaries. EIOPA’s management board is made up of eight members, including six representatives of national supervisory authorities of European member states, one representative of the EC and the Chairman of EIOPA.
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