En centralisering av regelgivning i Europa? Det rättsliga och politiska styrsystemet för finansmarknaden

Tidsperiod: 2017-01-01 till 2019-12-31

Projektledare: Carl Fredrik Bergström

Medarbetare: Dominique RITLENG, Adrienne Héritier

Finansiär: Vetenskapsrådet

Bidragstyp: Projektbidrag

Budget: 8 100 000 SEK

During recent years there have been striking changes in the patterns of rulemaking within the EU internal market. That can be seen, most obviously, in a shift of instruments for rulemaking; from directives which ‘leave to the national authorities the choice of form and methods’ to regulations which are ‘directly applicable’ and uniformly implemented across all member states. But the changes extend also to procedures for rulemaking and actors involved . Typically, today, extensive ‘regulatory frameworks’ are established by the EU legislature within which delegation is made of normative and executive powers to the European Commission and a new breed of EU regulatory agencies. Even if such changes can be observed throughout the internal market, the most prominent development has taken place in the area of ‘banking and finances’ where EU rulemaking has been intense in the aftermath of the financial crisis. The functioning of the financial market is a central concern of the modern society and the development offers rich opportunities for legal and political science with their complementary views on legal institutions and political processes unfolding within these institutions. In our project we examine if, why and how the patterns of the procedures and instruments used for EU rulemaking in the financial market indicate an increasing centralisation, and what the implications are for the EU system of legal and political governance, focusing on the preconditions for accountability.