Transparency and professional conduct

Independence and high standards of professional conduct are crucial for ensuring high standards and excellence for the work of the EBA. The agency endeavours to operate in a clear and open manner and is mindful of its duty of transparency towards EU citizens. The agency also strives to ensure that its staff and Management Board do not have any interests that could affect their impartiality and has put in place specific policies to deal with any potential conflicts of interests.

The EBA Conflict of Interest Policy

To this end, the ‘Policy on Independence and Decision Making Processes for avoiding Conflicts of Interests (Conflict of Interest Policy)' adopted by the EBA Board of Supervisors supports the prompt identification and the consequent management of any actual or potential conflict of interest.

Who is concerned?

This policy concerns members of the Board of Supervisors, members of the Management Board, their officially nominated Alternates, as well as Observers (i.e. heads of national Competent Authorities of Member States of the EEA), Non-voting Members (i.e. representatives of the European Commission, the ESRB, ESMA, EIOPA, ECB) and other representatives of national Competent Authorities referred to in Article 40(4) of Regulation (EU) No 1093/2010. All those subject to this policy are required to submit a ‘Declaration of Interests' which is assessed by the EBA and made publicly available on its website.

How is a conflict of interest defined?

The EBA Conflict of Interest Policy identifies different kinds of interests that should be reported to and assessed by the EBA. These range from economic interests, memberships, activities with other employers, consultancy activities, intellectual property rights, interests of close family members and any other activities or situations which might create an actual or potential conflict of interest. Wherever a conflict of interest is identified appropriate measures must be taken to either remove it or mitigate it; the policy also reminds all those subject to it that improper disclosure of Confidential Information may constitute serious misconduct and may be subject to disciplinary measures, as well as prosecution, where improper disclosure of information is a criminal offence.

Professional conduct: the ‘Declaration of Intention'

In addition, all those involved in the activities of the EBA are bound to professional secrecy and to confidentiality requirements. They have to confirm their compliance with these requirements on a ‘Declaration of Intention'. In the case of members of the Board of Supervisors, Management Board and their officially nominated alternates, this ‘Declaration of Intention' is also made public.