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Regulation of supervision on financial markets

Fulvio Costantino (University of Rome “La Sapienza”, Rome, Italy)

International Journal of Public Sector Management

ISSN: 0951-3558

Article publication date: 17 August 2012

951

Abstract

Purpose

The purpose of this paper is to consider financial services sector macro‐prudential and micro‐prudential supervisory reforms in the European Union (EU). It aims to critically examine the new system, reviewing in particular the adequacy of the reform to address financial crises.

Design/methodology/approach

The paper is based on a qualitative analysis of the relevant academic and trade literature.

Findings

In considering the new EU supervisory system's constitutional and legal foundation and its organizational structure, the study highlights the revamped and complex architecture's strengths and limitations.

Originality/value

The paper makes a contribution to the understanding of the new financial services sector supervisory system in the EU; few studies have analyzed its constitutional legality and satisfactoriness for the prevention of new crises.

Keywords

Citation

Costantino, F. (2012), "Regulation of supervision on financial markets", International Journal of Public Sector Management, Vol. 25 No. 6/7, pp. 437-443. https://doi.org/10.1108/09513551211260612

Publisher

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Emerald Group Publishing Limited

Copyright © 2012, Emerald Group Publishing Limited

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