European Supervisory Authorities - Room for improvement at Level 2 and Level 3

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Section 1 The European Supervisory Authorities (ESAs)

1. Introduction and Main Players
2. Main Areas of Activity of the ESAs
3. Conclusion: Relevance of the regulatory role

Section 2 Four principles for the regulatory work of ESAs

1. Principle 1: Adherence to the mandate
2. Principle 2: Subsidiarity
3. Principle 3: Proportionality
4. Principle 4: Consistency
5. Summary: Relevance of the four principles to the regulatory level of the ESAs

Section 3 Mechanisms for scrutinising application of the principles

1. Introduction
2. Status Quo: Existing scrutiny mechanisms and their application
3. Necessary additions to scrutiny mechanisms

 

Expert Opinion: European Supervisory Authorities

About the Munich Financial Centre Initiative:
Bavaria, with its centre in Munich, is one of the most important financial centres in Europe, the largest insurance centre in Germany, the second largest German banking location and a leader in private equity, venture capital, leasing and asset management. The Munich Financial Centre Initiative brings together all important companies, associations, institutions as well as scientific and government institutions from the financial sector to speak with one voice. Founded in 2000 under the significant commitment of the Bavarian Ministry of Economic Affairs, the initiative now has fifty members, more than any other financial centre initiative in Germany.

Contact:
Dr. Hanns-Peter Kollmann
c/o Bayerische Börse AG
Karolinenplatz 6, 80333 München
Phone: 089 549045-0
Mail: kontakt@fpmi.de

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