EIOPA opinion on a delegation agreement between Dirección General de Seguros y Fondos de Pensiones and De Nederlandsche Bank N.V. under Article 28 of the EIOPA Regulation

The European Insurance and Occupational Pensions Authority (EIOPA) provides this Opinion on the basis of Article 8(1)(c) and Article 28 of Regulation (EU) No 1094/2010 , (hereinafter “the EIOPA Regulation”). Articles 8(1)(c) and 28(2) of the EIOPA Regulation mandate EIOPA to stimulate and facilitate the delegation of tasks and responsibilities between competent authorities by identifying those tasks and responsibilities that can be delegated or jointly exercised and by promoting best practices. 

Competent authorities may delegate tasks and responsibilities to other competent authorities. As regards the delegation of responsibilities, it results in the reallocation of competences laid down in the acts referred to in Article 1(2) of the EIOPA Regulation. In this case, the law of the delegate authority governs the procedure, enforcement and administrative and judicial review relating to the delegated responsibilities.