(52)A Board of Supervisors composed of the heads of the relevant competent authorities in each Member State, and chaired by the Chairperson of the Authority, should be the principal decision-making organ of the Authority. Representatives of the Commission, the ESRB, the European Supervisory Authority (European Banking Authority) and the European Supervisory Authority (European Securities and Markets Authority) should participate as observers. Members of the Board of Supervisors should act independently and only in the Union’s interest.
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New version applies from 23/05/2014 — introduced by Directive 2014/51/EU.
137 provisions change.
Later versions: 01/01/2020, 01/07/2025, 10/11/2025.
Recital 52 changes in this version: compare with the current text.