This chapter looks at the powers and workings of the European Securities Markets Authority (ESMA). It discusses the tensions surrounding the establishment of agencies at the EU level and the legal limitations arising from the case law of the European Court of Justice, and focuses on the powers and the accountability mechanisms of ESMA. It examines its quasiregulatory, decision-making and administrative powers and assesses its likely impact on financial supervision in the EU.
|Original language||English (US)|
|Title of host publication||From Single Market to Economic Union|
|Subtitle of host publication||Essays in Memory of John A. Usher|
|Publisher||Oxford University Press|
|State||Published - Jun 21 2012|
All Science Journal Classification (ASJC) codes
- Social Sciences(all)