Joint Board of Appeal

The Board of Appeal is a joint body of the European Supervisory Authorities (EBA, EIOPA and ESMA) together called the "ESAs". It has been introduced to protect effectively the rights of parties affected by decisions adopted by the Authorities.

Although its secretariat is supported by the Authorities, the Board of Appeal is fully independent.

Articles 58 and 59 of the EBA, EIOPA and ESMA Regulations (the ESAs' Regulations) provide for the establishment of an independent and impartial Board of Appeal of the three ESAs.

The Board is responsible for deciding on appeals against certain decisions of the Authorities according to Article 60 of the ESAs' Regulations.

The decisions of the Board of Appeal can themselves be appealed to the Court of Justice of the European Union, as set out under Article 61 of the ESAs' Regulations and specific sectorial legislation.

Under Article 58(8) of the ESAs' Regulations, the Authorities provide operational and secretarial support to the Board of Appeal through the Joint Committee, a body which is also established by the ESAs' Regulations. 

Composition

The Board of Appeal is composed of six members and six alternates, appointed by EBA, ESMA and EIOPA, as required by the ESAs' Regulations.

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.

Current staff of the national competent authorities, or other national, or Union institutions involved in the activities of the ESAs are not eligible for service on the Board of Appeal.

In 2012, the Board of Appeal elected William Blair as President and Juan Fernández-Armesto as Vice-President, in accordance with the ESAs' Regulations.

Rules of procedure

In accordance with Article 60(6) of the ESAs' Regulations, the Board of Appeal has adopted Rules of Procedure which govern the bringing and conduct of an appeal.

Bringing an appeal

The full appeal process may be found under the Rules of Procedure. Further, there are Guidelines to the Parties to Appeal Proceedings before the Board of Appeal, and an indicative form for a Notice of Appeal. Legal articles quoted in the text below are from the ESAs' Regulations, or the Board of Appeal's Rules of Procedure.

Who is entitled to file an appeal?

"Any natural or legal person, including competent authorities, may appeal against a decision of the Authority referred to in Articles 17, 18 and 19 and any other decision taken by the Authority in accordance with the Union acts referred to in Article 1(2) which is addressed to that person, or against a decision which, although in the form of a decision addressed to another person, is of direct and individual concern to that person." (Article 60 (1) of the ESAs' Regulations).

How to file an appeal?

Prospective Appellants should carefully review Article 60 of the ESAs' Regulations and the Rules of Procedure of the Board of Appeal, particularly Articles 5 and 7, to make sure the appeal is filed in time. The following is a summary only.
Article 60 (2) of the ESAs' Regulations provides that:
 
"The appeal, together with a statement of grounds, shall be filed in writing at the Authority within two months of the date of notification of the decision to the person concerned, or, in the absence of a notification, of the day on which the Authority published its decision." (.)

The Rules of Procedure of the Board of Appeal provide how this is to be done:

"A party wishing to bring an appeal against a decision of the Authority under Article 60 of the ESAs' Regulations shall do so by filing a Notice of Appeal with the Secretariat at the respondent ESA identifying the decision the subject of the appeal." (Article 5)

The "respondent ESA" is the ESA against whose decision the appeal is brought.

Article 7 of the Rules of Procedure of the Board of Appeal provides that filing may take place by email, by registered post, or by personal delivery. The relevant addresses are set out below.

Upon filing, the Secretariat at the respondent ESA transmits the Notice of Appeal to the Secretariat at the ESA which will provide the Secretariat for the appeal (Article 4 of the Rules of Procedure of the Board of Appeal).
 
The Secretariat of the Board of Appeal rotates every year, as indicated below:
 
for 2018 by European Securities and Markets Authority (ESMA)
103, rue de Grenelle, 75007 Paris – France
 
for 2019 by European Insurance and Occupational Pensions Authority (EIOPA)
Westhafenplatz 1, 60327 Frankfurt – Germany
 
for 2020 by European Banking Authority (EBA)
One Canada Square (Floor 46), Canary Wharf, London, E14 5AA – United Kingdom
 
Copying the Secretariat
The Notice of Appeal should also be copied in hard form and by e-mail to EBA (EBA, Board of Appeal, European Banking Authority (EBA), One Canada Square (Floor 46), Canary Wharf, London, E14 5AA – United Kingdom, indicating "confidential" / e-mail boardoafappeal@eba.europa.eu) who is in charge of the Secretariat of the BoA for 2017*. 
 
If the appeal is brought against the EBA in 2017, the Notice of Appeal should be copied in hard form and by e-mail to ESMA (boardofappeal@esma.europa.eu).

General contact for Board of Appeal matters

Secretariat of the ESAs' Joint Committee in 2018: European Securities and Markets Authority (ESMA)
103, rue de Grenelle, 75007 Paris – France
 

*The Secretariat of the Board of Appeal rotates every year:

 

for 2018 by European Securities and Markets Authority (ESMA)
103, rue de Grenelle, 75007 Paris – France
 
for 2019 by European Insurance and Occupational Pensions Authority (EIOPA)
Westhafenplatz 1, 60327 Frankfurt – Germany
 
for 2020 by European Banking Authority (EBA)
One Canada Square (Floor 46), Canary Wharf, London, E14 5AA – United Kingdom

 

Since no ESA can administer an appeal filed against its own acts (Article 4 of the Rules of Procedure of the Board of Appeal), if the appeal is brought against the Authority which provides the Secretariat in that year, the Notice of Appeal should be copied in hard form and by e-mail to the Authority which provides the Secretariat for the following year.