Conditions and Obligations in ECB Supervisory Decisions as Ancillary Provisions under SSM Law
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Gianni Lo Schiavo
The Single Supervisory Mechanism (SSM) Regulation has conferred prudential tasks to the European Central Bank (ECB) which it shall carry out within a SSM composed of the ECB and national competent authorities (NCAs). This article assesses the legal feasibility to attach conditions and obligations in ECB supervisory decisions. It looks at other areas of EU administrative law (merger control and State aid law), assesses the ECJ Atradius (C-18/14) judgment in the area of insurance supervision and argues that conditions and/or obligations are ancillary provisions that can be included in ECB supervisory decisions as a matter of EU law. The article evaluates also the impact of the inclusion of conditions and/or obligations on the right to be heard under art.22 SSM Regulation. While conditions and obligations may have adverse effects, the article examines to what extent the right to be heard applies in cases the ECB includes conditions and/or obligations in ECB supervisory decisions.
© 2017 Walter de Gruyter GmbH, Berlin/Boston
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Articles in the same Issue
- Regulating Proxy Advisors Through Transparency: Pros and Cons of the EU Approach
- Fiat Chrysler Automobiles and the New Face of the Corporate Mobility in Europe
- Corporate Directors’ Liability in Polish Law
- Conditions and Obligations in ECB Supervisory Decisions as Ancillary Provisions under SSM Law
- Crowdfunding and the Small Offering Exemption in European and US Prospectus Regulation: Striking a Balance Between Investor Protection and Access to Capital?
- The Conundrum of Hedge Fund Definition
- Almost Capital-less Companies in Europe: Trends, Variations, Competition
