Law Enforcement by EU Authorities
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Law Enforcement by EU Authorities

Implications for Political and Judicial Accountability

Edited by Miroslava Scholten and Michiel Luchtman

EU law and governance have faced a new development – the proliferation of EU enforcement authorities, which have grown in number over the last 15 years. These entities, either acting alone or together with national enforcement authorities, have been investigating and sanctioning private actors on their compliance with EU law. Law Enforcement by EU Authorities investigates whether the system of control (in terms of both judicial and political accountability) has evolved to support the new system of law enforcement in the EU.
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Chapter 2: Political and judicial accountability in the EU shared system of banking supervision and enforcement

Ton Duijkersloot, Argyro Karagianni and Robert Kraaijeveld

Abstract

This chapter focuses on banking supervision and enforcement in the EU. With the entry into force of the Single Supervisory Mechanism (SSM) Regulation, this sector is a prime example of where the verticalisation of EU law enforcement has occurred. It analyses the main aspects of the new supervisory system, particularly the division of tasks and powers between the European Central Bank and two national competent authorities, De Nederlandsche Bank and the Bank of Greece. Then it considers to what extent mechanisms relating to political accountability keep checks and balances under control and discusses redundancies and gaps in the system of judicial accountability. It concludes that while the system is generally robust, confidentiality obligations, as well as the ambiguous nature of instructions, may be placing certain limits on political and judicial accountability.

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