Toward an integrated enforcement of banking regulation: the case of the single supervisory mechanism

Date: 29 to 30-11-2018

Location: Luxembourg

Languages: English

Fees: € 0

Organiser: University of Luxembourg

Partnership: European Banking Institute

Type: Conference

This conference is the closing event of a three-year research project “Enforcement of banking regulation in the Eurozone” (EUBAR) funded by the Luxembourg National Research Fund (FNR) and carried out by University of Luxembourg. The crisis-driven reforms adopted world-wide in the last decade radically changed the regulatory framework on financial and banking supervision. Real economy needs a solid regulatory foundation and a resilient banking system both at international and national level. With this aim, better regulation and effective enforcement of banking supervision seem to play a crucial role in preventing financial crisis in the future. As a result, the EU created a new and centralised banking supervisory mechanism (SSM) based on an integrated legal framework and shared enforcement between the European Central Bank and the national banking supervisory authorities. In force since 2014, the SSM poses several unprecedented challenges: what are the principles governing the SSM enforcement? How effective is the cooperation between the ECB and the national authorities? How should the investigative and sanctioning powers of the ECB be controlled? By which authorities? Are procedural safeguards sufficiently ensured? How can administrative and criminal enforcement interact without clashes? And last but not least, what is the role for criminal law? In this perspective, the conference aims to achieve a better understanding of the dynamics between administrative and criminal law that occur in the field of European banking regulation, while identifying potential conflicts or frictions that might eventually undermine effective enforcement.