Weismann European Agencies and Risk Governance in EU Financial Market Law

1. Auflage 2016
ISBN: 978-1-317-48016-7
Verlag: CRC Press
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 257 Seiten

Reihe: Routledge Research in EU Law

The phenomenon of ‘agencification’ describes the EU legislator’s increasing establishment of European agencies to fulfil tasks in a variety of EU policies. The creation of these decentralised administrative entities raises a number questions, for example on the limits to such delegation of powers, on the agencies’ institutional development and possible classification, and on the role of comitology committees as an institutional alternative.

This book examines the EU’s ‘agencification’ with regard to these questions, on the basis of and with reference to which the focus is laid on the European agencies operating in the field of financial market risk governance. This analysis does not only encompass the three European Financial Market Supervisory Authorities (the ESAs), but also takes into account the institutional change brought about by the Banking Union, more specifically the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM). While the SRM sets in place a new European agency, the Single Resolution Board, the SSM establishes and empowers a new body within the organisation of the European Central Bank, the Supervisory Board.

By exploring the organisation, the tasks and the powers of these actors in financial market regulation and supervision, Paul Weismann shows the current peak of the institutional development of European agencies and assesses organisation and unprecedented powers with a view to their compliance with EU law, in particular the Treaties and the respective case law of the European courts.

As an evaluation of various aspects of the progressing centralisation of regulatory power on the EU level, on which it is exercised by an increasingly decentralised administrative apparatus, this book will be of great interest and use to students and scholars of EU law, financial law and regulation, and European politics.

Autoren/Hrsg.

Weismann, Paul

Fachgebiete

• Rechtswissenschaften Wirtschaftsrecht
• Rechtswissenschaften Öffentliches Recht Verwaltungsrecht Verwaltungspraxis

Inhaltsverzeichnis

Part 1: Preliminaries 1. The Term ‘Agency’ in General and in the Context of EU Law in Particular 2. ‘Risk Governance’ as a Generic Term of a certain Set of Policies 3. The Quality of Legal Acts: Hard Law and Soft Law Part 2: Core Questions of the ‘Agencification’ of Risk Governance 4. Delegation of Powers – the Meroni Doctrine 5. Comitology – a Foreshadowing of Agencification? 6. Institutional Questions of European Agencies 7. The Relationship between Comitology and Agencies – Competitors or Communicating Vessels? 8. The Crisis: Alternative Ways of Risk Governance 9. The Future of European Agencies - Has the EU's 'Agencification' Exceeded its Zenith? Part 3: The Financial Market Supervisory Architecture of the European Union 10. Status quo ante and status quo: The Development of the Current Financial Market Supervisory System 11. The Current Financial Market Supervisory Architecture

Über Autor(innen)

Paul Weismann is a researcher at the University of Salzburg.