Adapting the European System of Financial Supervision (ESFS) to the EEA Two-Pillar Structure – A Workable Solution?
In response to the global financial crisis, the European System of Financial Supervision (ESFS) was created in 2010. Supranational bodies were established for different financial sectors to act as supervisors of sorts for national-level supervisors in EU Member States. This article focuses on how th...
Published in: | European Company and Financial Law Review |
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Walter de Gruyter GmbH
2019
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Online Access: | http://dx.doi.org/10.1515/ecfr-2019-0020 http://www.degruyter.com/view/j/ecfr.2019.16.issue-5/ecfr-2019-0020/ecfr-2019-0020.xml https://www.degruyter.com/document/doi/10.1515/ecfr-2019-0020/pdf |
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crdegruyter:10.1515/ecfr-2019-0020 2023-05-15T16:49:58+02:00 Adapting the European System of Financial Supervision (ESFS) to the EEA Two-Pillar Structure – A Workable Solution? Bergþórsson, Andri Fannar 2019 http://dx.doi.org/10.1515/ecfr-2019-0020 http://www.degruyter.com/view/j/ecfr.2019.16.issue-5/ecfr-2019-0020/ecfr-2019-0020.xml https://www.degruyter.com/document/doi/10.1515/ecfr-2019-0020/pdf unknown Walter de Gruyter GmbH European Company and Financial Law Review volume 16, issue 5, page 557-591 ISSN 1613-2556 1613-2548 Law Economics, Econometrics and Finance (miscellaneous) journal-article 2019 crdegruyter https://doi.org/10.1515/ecfr-2019-0020 2022-04-14T05:12:01Z In response to the global financial crisis, the European System of Financial Supervision (ESFS) was created in 2010. Supranational bodies were established for different financial sectors to act as supervisors of sorts for national-level supervisors in EU Member States. This article focuses on how the system was adapted to three EFTA States that are not part of the EU but form the internal market along with EU Member States through the EEA Agreement – Iceland, Norway and Lichtenstein (EEA EFTA States). The aim is to clarify how ESFS has been incorporated into the EEA agreement and to discuss whether this a workable solution for the EEA EFTA States that have not transferred their sovereignty by name in the same manner as the EU Member States. One issue is whether the adaptation has gone beyond the limits of the two-pillar structure, as all initiative and work stem from the EU supranational bodies and not the EFTA pillar. Article in Journal/Newspaper Iceland De Gruyter (via Crossref) Norway Pillar ENVELOPE(166.217,166.217,-77.583,-77.583) European Company and Financial Law Review 16 5 557 591 |
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Open Polar |
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De Gruyter (via Crossref) |
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crdegruyter |
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unknown |
topic |
Law Economics, Econometrics and Finance (miscellaneous) |
spellingShingle |
Law Economics, Econometrics and Finance (miscellaneous) Bergþórsson, Andri Fannar Adapting the European System of Financial Supervision (ESFS) to the EEA Two-Pillar Structure – A Workable Solution? |
topic_facet |
Law Economics, Econometrics and Finance (miscellaneous) |
description |
In response to the global financial crisis, the European System of Financial Supervision (ESFS) was created in 2010. Supranational bodies were established for different financial sectors to act as supervisors of sorts for national-level supervisors in EU Member States. This article focuses on how the system was adapted to three EFTA States that are not part of the EU but form the internal market along with EU Member States through the EEA Agreement – Iceland, Norway and Lichtenstein (EEA EFTA States). The aim is to clarify how ESFS has been incorporated into the EEA agreement and to discuss whether this a workable solution for the EEA EFTA States that have not transferred their sovereignty by name in the same manner as the EU Member States. One issue is whether the adaptation has gone beyond the limits of the two-pillar structure, as all initiative and work stem from the EU supranational bodies and not the EFTA pillar. |
format |
Article in Journal/Newspaper |
author |
Bergþórsson, Andri Fannar |
author_facet |
Bergþórsson, Andri Fannar |
author_sort |
Bergþórsson, Andri Fannar |
title |
Adapting the European System of Financial Supervision (ESFS) to the EEA Two-Pillar Structure – A Workable Solution? |
title_short |
Adapting the European System of Financial Supervision (ESFS) to the EEA Two-Pillar Structure – A Workable Solution? |
title_full |
Adapting the European System of Financial Supervision (ESFS) to the EEA Two-Pillar Structure – A Workable Solution? |
title_fullStr |
Adapting the European System of Financial Supervision (ESFS) to the EEA Two-Pillar Structure – A Workable Solution? |
title_full_unstemmed |
Adapting the European System of Financial Supervision (ESFS) to the EEA Two-Pillar Structure – A Workable Solution? |
title_sort |
adapting the european system of financial supervision (esfs) to the eea two-pillar structure – a workable solution? |
publisher |
Walter de Gruyter GmbH |
publishDate |
2019 |
url |
http://dx.doi.org/10.1515/ecfr-2019-0020 http://www.degruyter.com/view/j/ecfr.2019.16.issue-5/ecfr-2019-0020/ecfr-2019-0020.xml https://www.degruyter.com/document/doi/10.1515/ecfr-2019-0020/pdf |
long_lat |
ENVELOPE(166.217,166.217,-77.583,-77.583) |
geographic |
Norway Pillar |
geographic_facet |
Norway Pillar |
genre |
Iceland |
genre_facet |
Iceland |
op_source |
European Company and Financial Law Review volume 16, issue 5, page 557-591 ISSN 1613-2556 1613-2548 |
op_doi |
https://doi.org/10.1515/ecfr-2019-0020 |
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European Company and Financial Law Review |
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16 |
container_issue |
5 |
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557 |
op_container_end_page |
591 |
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1766040147001868288 |