How expenses are incurred
Expenses are incurred by our board members in two ways:
- either individuals spend their own money whilst on business on behalf of the regulator and then claim it back (see staff and board / panel expenses policies in our publication scheme)
- the business makes bookings, particularly for travel and accommodation that need to be booked in advance, is invoiced for the cost.
So travel / expenses bookings made in advance will be published for the quarter in which they were processed / paid, and therefore may not necessarily appear alongside other expenses (claimed back in arrears) for the same trip.
During his appointment as chief executive, Bill Galvin was on the Board of Supervisors of the European Insurance and Occupational Pensions Authority (EIOPA), and a significant part of his expenses were associated with this role.