The report takes stock of the situation on NCAs independence along key aspects i.e. operational independence, financial independence, personal independence as well as accountability and transparency. It should be noted that this report does not represent an assessment of NCAs independence. Rather it seeks to factually represent the legal and operational position of NCAs under the key elements of independence.
This report can support NCAs in assessing whether it might be desirable to seek any legislative or regulatory amendment to further improve the framework underpinning their independence. Moreover, it can provide valuable information to EIOPA for future work in the field of supervisory convergence, including Peer Reviews.