An overview of the EU financial services supervisory framework

Resource type: Practice note: overview

Status: Maintained

Jurisdiction: European Union

This practice note provides 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) (which have replaced the previous level 3 "Lamfalussy" committees):
    • 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 27 EU member state national supervisors.

For a quick guide to the ESFS, see Quick guide, EU financial services supervisory framework.

The reform of the EU financial services supervisory framework, which resulted in the ESFS, was tracked in Reform of the EU financial services supervisory framework: key developments tracker. This tracker includes key source materials, together with related PLC Financial Services coverage.

PLC Financial Services

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  • Resource ID: 4-504-3281
  • Products:  PLC EU, PLC UK Financial Services, PLC UK Public Sector
  • This resource is maintained, meaning that we monitor developments on a regular basis and update it as soon as possible.
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Practice note: overview
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