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- Title
Schnell, fachkundig und diskret: Sind verwaltungsinterne Kontrollen der bessere Rechtsschutz?
- Authors
Heitzer, Sonja; Kaufhold, Ann-Katrin
- Abstract
The article analyzes the effectiveness and efficiency of the three control bodies of the Banking Union: the Administrative Review Committee of the ECB (ABoR), the Complaints Committee within the Single Resolution Mechanism (SRB), and the Joint Board of Appeal of the European Supervisory Authorities EBA, EIOPA, and ESMA (JBoA). It examines whether internal administrative controls provide better legal protection. The Administrative Review Committee of the ECB is mentioned as an example. The ABoR was established in 2014 and has various objectives, including relieving the courts, disciplining the ECB, and providing individual legal protection. It is noted that the ABoR offers little subjective legal protection and that companies going through the ABoR process tend to have lower chances of success in court. The article also deals with the Complaints Committee within the Single Resolution Mechanism (SRB), which is responsible for the orderly resolution of insolvent banks. It emphasizes that the planned amendment of the SRB's statute depends on its ability to make effective decisions and strike a proper balance between the interests of the affected banks and the public interest in financial stability. The article addresses the complaint procedure in the context of bank resolution under the SRM Regulation. It is noted that the procedure is less urgent than the enforcement of SRB decisions. The right to lodge a complaint lies with the addressees of an SRB decision and with individuals directly and individually affected by a decision. The article also discusses the review standard of the Complaints Committee and the level of scrutiny in reviewing decisions. It is noted that the Committee does not have the power to reject decisions and must also enforce legal norms that it considers unlawful.
- Subjects
EUROPEAN Central Bank; GOVERNMENT ownership of banks; LEGAL norms; REVIEW committees; FINANCIAL security; INTERNAL auditing
- Publication
Zeitschrift für Bankrecht und Bankwirtschaft, 2023, Vol 35, Issue 4, p197
- ISSN
0936-2800
- Publication type
Article
- DOI
10.15375/zbb-2023-0403