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

by Finanzplatz München Initiative

Table of Contents


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


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