The PIOB Technical Committee is comprised of 10 members and a secretary general, who manages a Secretariat with a staff of 5, headquartered in Madrid. The PIOB Board meets 4 times a year at the end of each quarter: March, June, September and December. Three of the meetings are usually held in Madrid and one abroad, alternating location to achieve wider geographical presence. In addition to abiding by its internal Code of Conduct, the PIOB conducts regular self-assessments to ensure that the performance of the PIOB and its members is always responsive to any area identified for self-improvement.
Legally, the PIOB is a Technical Committee of the PIOB Foundation. All PIOB members belong to the Technical Committee of this Foundation, which is the body entrusted by the Foundation to carry out the oversight activities of the Foundation's mandate. PIOB members sign a contract with the Foundation as members of this Technical Committee. Not all PIOB Members are Patronato Members. The chair of the PIOB is the chairman of the Foundation. The secretary general of the PIOB is the secretary of the Foundation.
The PIOB Foundation, created by IOSCO, IAIS and the BCBS in 2005, is the independent legal entity housing the PIOB. It is legally accountable to the Spanish foundations regulators. The PIOB Foundation is governed by a Board of Trustees called Patronato under a set of by-laws.
The PIOB Foundation benefits from a specific law that grants some tax privileges to non-Spanish fiscal residents.
The PIOB is registered with the Spanish Authorities, specifically with the Foundations Protectorado.