Journal of European Tort Law
Editor-in-Chief: Oliphant, Ken
Ed. by Karner, Ernst / Koch, Bernhard A. / Wendehorst, Christiane
3 Issues per year
The topic of financial supervisory liability is becoming increasingly important from a European perspective due to the ongoing process of ʻEuropeanisationʼ of financial law and supervision. It is therefore interesting to see how the current financial supervisory liability landscape in the European Union looks. This paper describes and categorises the third-party liability regimes of 48 financial supervisory authorities in the 27 member states and calculates the relative importance of each predefined liability category in the EU when taking into account ʻone vote per member stateʼ, ʻpopulation sizeʼ and ʻgross productʼ as weighting factors. The analysis shows that no common approach to financial supervisory liability exists in the EU. Furthermore it provides an indication that limited third-party liability (gross negligence, bad faith or immunity) is more dominant in the EU compared to not-limited liability (no-fault or negligence based liability) when taking ʻpopulation sizeʼ or ʻgross domestic productʼ as weighting criteria.
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