CEBS’ Review Panel is mandated to assess the degree of convergence reached by CEBS members in the implementation of supervisory provisions, set out in Community legislation and in CEBS’ measures, and to monitor convergence in supervisory practices, with the purpose of encouraging a timely and consistent day to day application of all the above and of enhancing supervisory convergence within the EEA. In this respect, independent reviews are conducted by the Review Panel based on self-assessments provided by its members against clear and objective implementation criteria. Consistent with the so-called ‘comply or explain’ approach, should a member have not implemented a given supervisory provision or practice, then it will have to explain why. The credibility and the effectiveness of the mechanism are assured by the independence of the Review Panel, by a clear and objective methodology, and by the transparency of the process.
The Protocol and Methodology for this peer review mechanism, inspired by CESR’ experience, were published on 15 October 2007. The Protocol sets out the principles of Peer Review, the role of the Review Panel, the purpose of its work, its tools and working procedures. The methodology sets out guidance and procedures for the completion of both self assessments and review by peers, the reporting and publication requirements and the procedures for self assessments and reviews updating.
Download Peer Review: Methodology
Download Review Panel: Protocol