13 July 2018 – Publication of the Bank of Italy paper (Quaderni di Ricerca Giuridica) titled “Judicial review in the Banking Union and in the EU financial architecture” containing the contributions of the speakers at the conference jointly organized on 21 November 2017 by Banca d’Italia and the European Banking Institute
The paper contains the contributions of the speakers at the conference jointly organized on 21 November 2017 by Banca d’Italia and the European Banking Institute on “Judicial review in the Banking Union and in the EU financial architecture”. The essays investigate the scope, conditions and form under which judicial and administrative review of supervisory and resolutions actions are granted, both at European and domestic level. Judicial review must factor in an expanding environment of technical rules and a multi-level allocation of scrutiny among courts reflecting the existing functional integration between national and EU authorities; as is clearly demonstrated by the so called “common procedures” within the Single Supervisory Mechanism, pending the relevant EU case-law under development. Administrative review according to due process safeguards complements judicial scrutiny: by assigning tasks to independent boards of appeal and review within supervisory and resolution authorities, it enhances regulators’ accountability. The landscape however is quite diverse as to scope, standards and legal effects of examination also in the perspective of subsequent judicial challenge, if any. The necessary clarifications required by coexisting regimes for judicial and administrative review will be provided by the test of time and practice.