Investigative and sanctioning powers of the ECB in the framework of the Single Supervisory Mechanism: mapping the complexity of a new enforcement model

In most publications that deal with the Banking Union, the global financial crisis of 2008 is mentioned in the introductory paragraph. It is also the unavoidable starting point of this contribution, as it is the collapse of the banking sector that has shown the necessity to rethink the mechanism of banking supervision. Economic growth and financial stability have been seriously damaged by the global crisis that has plagued the world since 2007. The financial and banking crisis shed some light on the need for stronger and more efficient supervision but also on the need for a more effective system of sanctions and penalties to be applied. In particular, the Eurozone proved to be particularly exposed to the waves of the market because of the differences in supervision policies among the Member States which adopted the Euro as a single currency.

Journal/Publisher: Eucrim, Issue 4

Co-author/s: Olivier VOORDECKERS

Publication type: Article

Number of pages/Page range: 151-160

Language/s (content): English

Date of publication: 02-01-15

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Full name Silvia ALLEGREZZA

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University/Institution University of Luxembourg

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Telephone 00352 46 66 44 5608

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Email silvia.allegrezza@uni.lu