the new European financial market supervisory architecture

The topic and purpose of the project is a legal in-depth analysis of (1) selected institutional aspects of the new European financial market supervisory architecture and (2) with a view to its suitability to cope with the challenges of financial markets. Focus will be on whether and to what extent the design, the organisational and operational structure, tasks, powers and instruments of the authorities forming the European System of Financial Supervision (ESFS) and in addition the European Central Bank (E CB) are capable of responding to the challenges posed by financial globalisation and the integrated and interconnected reality of European financial markets. The analysis will be supplemented by a comparative perspective, introducing to at least one non- European institutional approach to the regulation and supervision of financial markets. The analysis will be complemented also by an interdisciplinary approach by integrating the monetary policy perspective. European legal interpretation methods apply wh en interpreting Union (primary and secondary) law. A comparative law approach will be taken when analysing non-European provisions in the realm of the financial market regulation. The aspects of monetary policy touched in connection with the project will require a cautious interdisciplinary approach.