IDEAS home Printed from https://ideas.repec.org/a/pfq/journl/v57y2012i3p347-357.html
   My bibliography  Save this article

Challenges of Direct European Supervision of Financial Markets

Author

Listed:
  • Szegedi, László

Abstract

The response of the European Union to the financial crises included the establishment of bodies dedicated to macro-prudential as well as microprudential supervision called European System of Financial Supervisors. As result of the reform regulatory powers have been delegated to sector-specific European Supervisory Authorities in charge of microprudential super-vision. The delegation could contravene the Lisbon primary law, especially the related case law followed by the Court of Justice of the European Union as the so-called Meroni doctrine restricts the delegation of concrete binding decision-making powers on European agencies like ESAs. However their power to issue individual decisions, addressed to financial institutions, could be considered as required tool in crisis management which makes it obvious that the primary EU law on European agencies needs to be clarified and broadened.

Suggested Citation

  • Szegedi, László, 2012. "Challenges of Direct European Supervision of Financial Markets," Public Finance Quarterly, Corvinus University of Budapest, vol. 57(3), pages 347-357.
    • Handle: RePEc:pfq:journl:v:57:y:2012:i:3:p:347-357
    as

    Download full text from publisher

    File URL: https://unipub.lib.uni-corvinus.hu/8982/
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Borbála Szüle, 2019. "Systemic Risk Dimensions in the Hungarian Banking and Insurance Sector," Public Finance Quarterly, State Audit Office of Hungary, vol. 64(2), pages 260-276.

    More about this item

    Keywords

    Internal Market; Financial crisis; European Supervisory Authorities; EU Agencies; Meroni doctrine;
    All these keywords.

    JEL classification:

    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pfq:journl:v:57:y:2012:i:3:p:347-357. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Adam Hoffmann (email available below). General contact details of provider: https://edirc.repec.org/data/bkeeehu.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.