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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Online Access: | https://doi.org/10.1515/ecfr-2019-0020 |
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ftrepec:oai:RePEc:bpj:eucflr:v:16:y:2019:i:5:p:557-591:n:2 2024-04-14T08:13:44+00:00 Adapting the European System of Financial Supervision (ESFS) to the EEA Two-Pillar Structure – A Workable Solution? Bergþórsson Andri Fannar https://doi.org/10.1515/ecfr-2019-0020 unknown https://doi.org/10.1515/ecfr-2019-0020 article ftrepec https://doi.org/10.1515/ecfr-2019-0020 2024-03-19T10:40:38Z 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 RePEc (Research Papers in Economics) 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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RePEc (Research Papers in Economics) |
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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 |
spellingShingle |
Bergþórsson Andri Fannar Adapting the European System of Financial Supervision (ESFS) to the EEA Two-Pillar Structure – A Workable Solution? |
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? |
url |
https://doi.org/10.1515/ecfr-2019-0020 |
long_lat |
ENVELOPE(166.217,166.217,-77.583,-77.583) |
geographic |
Norway Pillar |
geographic_facet |
Norway Pillar |
genre |
Iceland |
genre_facet |
Iceland |
op_relation |
https://doi.org/10.1515/ecfr-2019-0020 |
op_doi |
https://doi.org/10.1515/ecfr-2019-0020 |
container_title |
European Company and Financial Law Review |
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16 |
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5 |
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557 |
op_container_end_page |
591 |
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1796311784451211264 |