The European Supervisory Authorities – Room for improvement at Level 2 and Level 3
This cepStudy examines the regulatory role of the European Supervisory Authorities (ESAs) and the EU Commission. cep makes ten recommendations for improving control and scrutiny of the ESAs' and the Commission’s activities at Level 2 and Level 3. These include calling on the Council to strengthen its monitoring structures. The ESAs should only be able to develop guidelines where Parliament and the Council do not object.
Parliament and the Council should not seek to resolve political conflicts by way of Level 2 measures. In cep's view, consultations with the ESAs at an early stage, in Parliament and the Council, could promote a uniform understanding of the mandate. In addition, political scrutiny at national level - by Parliament or the responsible ministry -, of whether EU guidelines should in fact be complied with, is perfectly legitimate. This scrutiny should provide national supervisors with the necessary room for manoeuvre but at the same time prevent guidelines from offending against the national political will.