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Workshop da Autoridade Bancária Europeia

Workshop da Autoridade Bancária Europeia (EBA) realizado em Londres, a 17 de Janeiro de 2014 – Vários Painéis de especialistas internacionais de referência no quadro de procedimentos intencionalmente não abertos ao público permitiram a discussão de extenso leque de matérias com enfoque predominante nos instrumentos regulatórios e na arquitectura institucional da UE para a supervisão do sector financeiro (com a presença de Prof. Luís Silva Morais por parte do CIRSF

EBA put together a group of leading specialists at its headquarters in London for a full day (17 th January) of intense discussions with various panels, all chaired along the day by René Smits of UVA (of Amsterdam), covering, inter alia, the design, technical and institutional reach and possible limitations of new regulatory tools arising from the new financial architecture of financial regulation and supervision in the EU (particularly technical standards, guidelines and recommendations to be used by European Supervisory Authorities and the Supervisory Handbook, critically discussing their relationship with the so called level 1 legislation on financial regulation within the EU. In particular, Edoardo Chiti emphasized here the evolutionary nature that may be assumed by future normative developments at the level of EBA against other conflicting views that put forward a narrower framework for the intervention of EBA within the EU economic constitution (lato sensu). Another essential topic which was extensively discussed had to do with jurisprudence and legislative developments affecting the European institutional setting for financial regulation and supervision, taking into account especially the current reach of the Meroni Doctrine. A possible hardening of soft law in this domain was considered in this domain by some of the discussants. As regards possible crossroads in terms of adjustments or changes of the Meroni doctrine attention was called to a foreseeable crucial precedent arising from the ruling to be adopted by the Court of Justice of the EU in Case C-270/12 (“United Kingdom of Great Britain and Northern Ireland, v. European Parliament and Council of the European Union”, having to do with ESMA powers on short selling but with far wider potential corollaries. Various discussants emphasized that Meroni should not be construed as a straightjacket in this domain and that a more open vision of the role of the new European Supervisory Authorities (ESAs) within a living EU economic constitution should somehow prevail. More detailed aspects of the discussion cannot be disclosed here given the rules of engagement of this EBA Workshop (not opened to the public and accordingly not disclosing related materials and the full content of discussions), but, on the whole, the Workshop contributed to clarify important technical aspects in these domains with far reaching consequences for a wider policy debate in this domain highly relevant for EU citizens of regulation and supervision of financial institutions. The discussion also confirmed the importance of various recent papers in this field by some of the Panelists, as. e.g. Niam Moloney, Edoardo Chiti, P Craig, or Alexander Türk. (see Program of the EBAWorkshop)

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