The Appeal Panel acts as an independent body, which, although supported by the SRB, is fully independent. It was established under Regulation (EU) No 806/2014.
The Appeal Panel is composed of five individuals of high repute, from across the Banking Union, and with a proven record of relevant knowledge and professional experience, who will act independently and in the public interest.
Under Article 85(3) of the SRMR, any natural or legal person, including resolution authorities, may appeal against a decision of the Board:
- addressing or removing substantive impediments to resolution according to Article 10(10) SRMR;
- applying simplified obligations in relation to the drafting of resolution plans referred or may waive the obligation of drafting those plans according to Article 11 SRMR;
- determining the minimum requirement for own funds and eligible liabilities (MREL) according to Article 12(1) SRMR;
- imposing a fine according to Articles 38 to 41;
- raising contributions to the administrative expenditures of the Board according to Article 65(3) SRMR;
- raising extraordinary ex-post contributions according to Article 71 SRMR; and
- granting or denying access to documents under the public access to documents-framework according to Article 90(3) SRMR.
In order for a case to be admissible, the decision has to be addressed to that person, or to be of direct and individual concern to that person.