87510 - EUROPEAN FINANCIAL SUPERVISION: ADMINISTRATIVE AND JUDICIAL PROCEEDINGS

Learning outcomes

This course shall offer an in-depth analysis of the SSM and SRM in action, as they work in the day-to-day practice. It shall focus on the proceedings for the adoption of the supervisory, resolution and sanctioning decisions and on the ones aimed at the internal (ABoR, Appeal Panel) and judicial (national courts, CJEU) review of said decisions. Starting from a description of the allocation of tasks and powers within the SSM and the SRM, the course will concentrate on the different features of the said proceedings, depending on the nature of the decisions (whether supervisory, resolution or sanctioning ones) and on the level (whether national, EU or both national and EU) of the jurisdictions involved Cooperation and exchange of information amongst the SSM and SRM authorities will be investigated. Students shall be confronted with recent case law of the internal review bodies and the EU and national Courts.

Course contents

Starting from a description of the allocation of tasks and powers within the SSM and the SRM, the course will concentrate on the different features of the said proceedings, depending on the nature of the decisions adopted (whether supervisory decisions, resolution decisions or sanctions) as well as on the level (whether national or EU) and the extent (whether limited or unlimited) of the judicial review. Whilst in dealing with the SSM, the course will concentrate on the safeguards granted within the administrative procedures, with regard to the SRM - where the due process rules are basically waived - the focus will shifted to the judicial ones. Cooperation and exchange of information among the SSM and SRM authorities will be finally investigated.

Readings/Bibliography

Raffaele D’Ambrosio, Due process and safeguards of the persons subject to SSM supervisory and sanctioning proceedings, in Quaderni di ricerca giuridica della Consulenza Legale della Banca d'Italia, No 74, Rome, December 2013;

Marco Lamandini, David Ramos Muñoz, Javier Solana Álvarez, Depicting the limits to the SSM's supervisory powers: The Role of Constitutional Mandates and of Fundamental Rights' Protection, in Quaderni di ricerca giuridica della Consulenza Legale della Banca d'Italia, No. 79, October, 2015;

Raffaele D’Ambrosio, Meccanismo di Vigilanza Unico, in Enciclopedia del Diritto, Annali IX, 2016, p. 589 et seq.;

Marco Di Pietropaolo, Meccanismo di Risoluzione Unico, in Enciclopedia del Diritto, Annali IX, 2016, p. 556 et seq.;

Judicial review in the Banking Union and in the EU financial architecture Conference jointly organized by Banca d’Italia and the European Banking Institute, in Quaderni di ricerca giuridica della Consulenza Legale della Banca d'Italia, 84, Rome, June 2018;

Raffaele D’Ambrosio, The ECB and NCAs liability within the SSM, in Quaderni di ricerca giuridica della Consulenza legale della Banca d’Italia, No 78, Rome, January 2015

Teaching methods

Lectures with slides available on IOL. The use of these materials in study and preparation for examination is to be considered as complementary and not substitute for the use of the manuals indicated.Students shall be confronted with the relevant SSM and SRM legislations, regulations and general decisions, as well as with recent case law of the internal review bodies and the EU and national Courts.

Assessment methods

Oral examination. The exam tests the knowledge gained in the course, the ability to develop critical insights and the accuracy of the oral presentation.

Teaching tools

Slides and materials available on IOL.

Office hours

See the website of Raffaele D'Ambrosio